Smartleaf Asset Management LLC Boosts Holdings in The Macerich Company (NYSE:MAC)

Smartleaf Asset Management LLC raised its stake in shares of The Macerich Company (NYSE:MAC) by 314.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,467 shares of the real estate investment trust’s stock after buying an additional 2,630 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Macerich were worth $69,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Janney Montgomery Scott LLC lifted its stake in Macerich by 26.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 47,804 shares of the real estate investment trust’s stock worth $872,000 after purchasing an additional 9,943 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Macerich by 12.3% during the third quarter. Van ECK Associates Corp now owns 37,235 shares of the real estate investment trust’s stock valued at $681,000 after purchasing an additional 4,086 shares in the last quarter. Assetmark Inc. lifted its position in shares of Macerich by 5.6% in the third quarter. Assetmark Inc. now owns 18,404 shares of the real estate investment trust’s stock worth $336,000 after buying an additional 971 shares in the last quarter. Versor Investments LP bought a new position in Macerich during the third quarter valued at approximately $516,000. Finally, Victory Capital Management Inc. grew its holdings in Macerich by 7.7% during the 3rd quarter. Victory Capital Management Inc. now owns 89,058 shares of the real estate investment trust’s stock valued at $1,624,000 after buying an additional 6,346 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

Insiders Place Their Bets

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 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 in the company, valued at approximately $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MAC. Morgan Stanley raised Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft began coverage on shares of Macerich in a research note on Tuesday, December 17th. They set a “hold” rating and a $22.00 price target on the stock. Piper Sandler dropped their price objective on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, February 28th. Jefferies Financial Group upgraded shares of Macerich from a “hold” rating to a “buy” rating and upped their target price for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Finally, Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.13.

Macerich Trading Down 4.1 %

MAC opened at $16.87 on Monday. The Macerich Company has a one year low of $12.99 and a one year high of $22.27. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 43.24, a P/E/G ratio of 0.71 and a beta of 2.62. The stock’s 50 day moving average price is $19.92 and its 200-day moving average price is $19.05. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be given 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 -86.08%.

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.