Farther Finance Advisors LLC Sells 768 Shares of The Macerich Company (NYSE:MAC)

Farther Finance Advisors LLC lessened its holdings in The Macerich Company (NYSE:MAC) by 24.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,324 shares of the real estate investment trust’s stock after selling 768 shares during the quarter. Farther Finance Advisors LLC’s holdings in Macerich were worth $46,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MAC. Blue Trust Inc. lifted its position in shares of Macerich by 68.8% in the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of 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 worth $69,000 after purchasing an additional 2,630 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Macerich by 36.5% in the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 1,174 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Macerich during the fourth quarter worth $99,000. Finally, Sanctuary Advisors LLC bought a new stake in Macerich during the fourth quarter worth $212,000. 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 firm’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 owns 83,479 shares in the company, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

MAC has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a research report on Tuesday, December 17th. They set a “hold” rating and a $22.00 price target on the stock. Piper Sandler dropped 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. JPMorgan Chase & Co. dropped their price target on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a research report on Monday, March 10th. Morgan Stanley raised shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price target on the stock in a research report on Wednesday, January 15th. Finally, Scotiabank dropped 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, March 6th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.20.

Macerich Stock Performance

NYSE MAC opened at $17.27 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The company has a market cap of $4.36 billion, a P/E ratio of 44.27, a PEG ratio of 0.71 and a beta of 2.62. The company has a fifty day simple moving average of $19.25 and a 200 day simple moving average of $19.13. The Macerich Company has a 12-month low of $12.99 and a 12-month high of $22.27.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 3.94%. Macerich’s dividend payout ratio is currently -86.08%.

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.