13,702 Shares in The Macerich Company (NYSE:MAC) Bought by Corient Private Wealth LLC

Corient Private Wealth LLC acquired a new stake in shares of The Macerich Company (NYSE:MAC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,702 shares of the real estate investment trust’s stock, valued at approximately $273,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MAC. Blue Trust Inc. raised its holdings in Macerich by 68.8% during the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,064 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Macerich by 314.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 2,630 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 1,174 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Macerich during the fourth quarter worth about $99,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Macerich in the fourth quarter worth about $212,000. 87.38% of the stock is owned by institutional investors.

Macerich Trading Up 0.8 %

Shares of NYSE MAC opened at $17.22 on Tuesday. The stock has a market cap of $4.35 billion, a P/E ratio of 44.15, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The Macerich Company has a 1 year low of $12.99 and a 1 year high of $22.27. The firm has a 50-day moving average of $18.98 and a 200 day moving average of $19.21.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were given a $0.17 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.95%. Macerich’s dividend payout ratio is currently -86.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MAC shares. Deutsche Bank Aktiengesellschaft started coverage on Macerich in a research report on Tuesday, December 17th. They set a “hold” rating and a $22.00 price target for the company. Scotiabank dropped their price target on Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a research note on Thursday, March 6th. Jefferies Financial Group raised shares of 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 report on Thursday, January 2nd. Piper Sandler dropped their target price on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, February 28th. Finally, The Goldman Sachs Group reduced their price target on shares of Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a research report on Monday, March 10th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Macerich has an average rating of “Hold” and a consensus price target of $19.49.

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.