GAMMA Investing LLC Increases Stake in The Macerich Company (NYSE:MAC)

GAMMA Investing LLC boosted its position in The Macerich Company (NYSE:MAC) by 36.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,388 shares of the real estate investment trust’s stock after acquiring an additional 1,174 shares during the period. GAMMA Investing LLC’s holdings in Macerich were worth $87,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of Macerich by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust’s stock valued at $99,004,000 after purchasing an additional 34,982 shares during the period. Vestcor Inc raised its holdings in Macerich by 91.4% during the 3rd quarter. Vestcor Inc now owns 193,777 shares of the real estate investment trust’s stock valued at $3,534,000 after acquiring an additional 92,551 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Macerich by 0.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 314,000 shares of the real estate investment trust’s stock valued at $5,727,000 after acquiring an additional 2,322 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Macerich by 0.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust’s stock worth $5,029,000 after acquiring an additional 700 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Macerich in the third quarter worth $1,131,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Stock Down 5.6 %

MAC opened at $19.22 on Friday. The business’s fifty day simple moving average is $20.30 and its 200 day simple moving average is $17.75. The Macerich Company has a 52 week low of $12.99 and a 52 week high of $22.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The stock has a market cap of $4.78 billion, a PE ratio of 49.28, a P/E/G ratio of 0.75 and a beta of 2.51.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.90). The firm had revenue of $220.20 million for the quarter, compared to the consensus estimate of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. Macerich’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share. As a group, research analysts expect that The Macerich Company will post 1.56 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a $0.17 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.54%. Macerich’s payout ratio is 174.36%.

Insider Activity

In other news, Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $20.59, for a total value of $1,303,120.51. Following the completion of the sale, the director now owns 83,479 shares of the company’s stock, valued at approximately $1,718,832.61. The trade was a 43.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and boosted their price objective for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Macerich in a report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price target on the stock. Bank of America boosted their price objective on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Scotiabank upgraded shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 target price on the stock in a research note on Tuesday, December 17th. Finally, Piper Sandler boosted their price target on shares of Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Macerich has an average rating of “Hold” and an average target price of $19.24.

Macerich Company 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.