Mutual of America Capital Management LLC Acquires 4,705 Shares of The Macerich Company (NYSE:MAC)

Mutual of America Capital Management LLC increased its holdings in The Macerich Company (NYSE:MAC) by 14.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,191 shares of the real estate investment trust’s stock after buying an additional 4,705 shares during the period. Mutual of America Capital Management LLC’s holdings in Macerich were worth $741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings in shares of Macerich by 68.8% in the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 1,064 shares during the period. GAMMA Investing LLC boosted its position in Macerich by 36.5% during the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 1,174 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Macerich in the fourth quarter valued at about $99,000. Sanctuary Advisors LLC purchased a new position in Macerich in the fourth quarter valued at about $212,000. Finally, Custom Index Systems LLC raised its holdings in Macerich by 8.7% in the fourth quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust’s stock worth $232,000 after purchasing an additional 928 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Insiders Place Their Bets

In other news, Director Andrea M. Stephen sold 63,289 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total value of $1,303,120.51. Following the sale, the director now owns 83,479 shares in the company, valued at $1,718,832.61. This represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by insiders.

Macerich Stock Down 4.1 %

Macerich stock opened at $16.87 on Monday. The Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. The company has a market cap of $4.26 billion, a PE ratio of 43.24, a PEG ratio of 0.71 and a beta of 2.62. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The business’s 50-day simple moving average is $19.92 and its two-hundred day simple moving average is $19.05.

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 issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.68 annualized dividend and a yield of 4.03%. Macerich’s dividend payout ratio (DPR) is presently -86.08%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MAC. Piper Sandler cut their price objective 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. Deutsche Bank Aktiengesellschaft initiated 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. Morgan Stanley upgraded Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective for the company in a report on Wednesday, January 15th. Scotiabank lowered their price objective on Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a research report on Thursday. Finally, Mizuho raised Macerich from an “underperform” rating to a “neutral” rating and upped their target price for the company from $14.00 to $22.00 in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.13.

About Macerich

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.