Cerity Partners LLC Takes $207,000 Position in The Macerich Company (NYSE:MAC)

Cerity Partners LLC purchased a new position in The Macerich Company (NYSE:MAC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,387 shares of the real estate investment trust’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC raised its holdings in Macerich by 1,460.3% in the fourth quarter. International Assets Investment Management LLC now owns 324,502 shares of the real estate investment trust’s stock worth $5,007,000 after purchasing an additional 303,704 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Macerich by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,488,816 shares of the real estate investment trust’s stock worth $48,973,000 after acquiring an additional 31,445 shares in the last quarter. Barclays PLC increased its stake in shares of Macerich by 91.0% in the 3rd quarter. Barclays PLC now owns 221,834 shares of the real estate investment trust’s stock worth $2,421,000 after acquiring an additional 105,663 shares in the last quarter. SG Americas Securities LLC lifted its position in Macerich by 642.9% during the 3rd quarter. SG Americas Securities LLC now owns 115,705 shares of the real estate investment trust’s stock valued at $1,262,000 after acquiring an additional 100,131 shares during the period. Finally, Invesco Ltd. boosted its stake in Macerich by 15.3% during the third quarter. Invesco Ltd. now owns 579,573 shares of the real estate investment trust’s stock worth $6,323,000 after acquiring an additional 76,888 shares in the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Price Performance

Shares of NYSE MAC opened at $16.01 on Tuesday. The firm has a market cap of $3.45 billion, a P/E ratio of -12.60, a PEG ratio of 1.76 and a beta of 2.33. The Macerich Company has a twelve month low of $9.05 and a twelve month high of $17.69. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.67. The company has a 50 day moving average of $16.33 and a 200 day moving average of $14.58.

Macerich (NYSE:MAC) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.26). Macerich had a negative return on equity of 10.26% and a negative net margin of 31.00%. The business had revenue of $238.70 million during the quarter, compared to the consensus estimate of $224.49 million. During the same period in the previous year, the business posted $0.53 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, research analysts expect that The Macerich Company will post 1.8 EPS for the current fiscal year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, May 17th. Macerich’s payout ratio is presently -53.54%.

Wall Street Analysts Forecast Growth

MAC has been the subject of a number of analyst reports. The Goldman Sachs Group raised their target price on shares of Macerich from $9.00 to $13.00 and gave the company a “sell” rating in a research note on Thursday, January 11th. Truist Financial reaffirmed a “hold” rating and set a $16.00 price objective on shares of Macerich in a research report on Monday, March 25th. StockNews.com downgraded Macerich from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Citigroup upgraded Macerich from a “sell” rating to a “neutral” rating and raised their price target for the company from $8.00 to $17.00 in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, Macerich has a consensus rating of “Hold” and a consensus price target of $14.40.

Insider Activity

In related news, President Edward C. Coppola sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total transaction of $860,000.00. Following the transaction, the president now owns 655,667 shares in the company, valued at $11,277,472.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, President Edward C. Coppola sold 50,000 shares of Macerich stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total value of $860,000.00. Following the completion of the sale, the president now owns 655,667 shares of the company’s stock, valued at $11,277,472.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hern Thomas E. O sold 95,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $16.94, for a total value of $1,609,300.00. Following the sale, the director now owns 102,900 shares of the company’s stock, valued at approximately $1,743,126. The disclosure for this sale can be found here. Insiders have sold a total of 172,964 shares of company stock valued at $2,940,030 in the last 90 days. 0.53% of the stock is currently owned by insiders.

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.