Atria Investments Inc Buys 1,179 Shares of The Macerich Company (NYSE:MAC)

Atria Investments Inc raised its stake in shares of The Macerich Company (NYSE:MAC) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 124,907 shares of the real estate investment trust’s stock after acquiring an additional 1,179 shares during the quarter. Atria Investments Inc’s holdings in Macerich were worth $2,488,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MAC. Victory Capital Management Inc. increased its stake in Macerich by 2.2% in the fourth quarter. Victory Capital Management Inc. now owns 90,988 shares of the real estate investment trust’s stock valued at $1,812,000 after acquiring an additional 1,930 shares during the period. Nicola Wealth Management LTD. bought a new stake in Macerich in the fourth quarter valued at about $794,000. Charles Schwab Investment Management Inc. increased its stake in Macerich by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,171,300 shares of the real estate investment trust’s stock valued at $103,012,000 after acquiring an additional 369,931 shares during the period. B&I Capital AG bought a new stake in Macerich in the fourth quarter valued at about $7,379,000. Finally, Smartleaf Asset Management LLC increased its stake in Macerich by 314.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 2,630 shares during the period. Institutional investors own 87.38% of the company’s stock.

Insider Buying and Selling

In related news, Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the completion of the sale, the director now directly owns 83,479 shares of the company’s stock, valued at $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by insiders.

Macerich Trading Down 4.1 %

MAC opened at $16.87 on Monday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 43.24, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. The firm has a 50 day simple moving average of $19.92 and a 200 day simple moving average of $19.05. The Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Tuesday, March 4th. Macerich’s dividend payout ratio (DPR) is -86.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jefferies Financial Group upgraded shares of Macerich from a “hold” rating to a “buy” rating and boosted their price target for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Macerich in a research report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price target on the stock. Scotiabank reduced their price target on shares of Macerich from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Thursday. Piper Sandler reduced their price target on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, February 28th. Finally, Morgan Stanley upgraded shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 target price on the stock in a research report on Wednesday, January 15th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Macerich currently has an average rating of “Hold” and an average price target of $19.13.

Macerich Profile

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.