SG Americas Securities LLC Sells 236,665 Shares of The Macerich Company (NYSE:MAC)

SG Americas Securities LLC lowered its stake in The Macerich Company (NYSE:MAC) by 90.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,323 shares of the real estate investment trust’s stock after selling 236,665 shares during the quarter. SG Americas Securities LLC’s holdings in Macerich were worth $524,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in Macerich by 152.2% during the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 933 shares during the period. GAMMA Investing LLC increased its holdings in shares of Macerich by 40.9% in the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 933 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Macerich in the second quarter worth $129,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Macerich by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 2,161 shares in the last quarter. Finally, Townsquare Capital LLC boosted its stake in Macerich by 7.2% during the third quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock valued at $245,000 after buying an additional 902 shares during the period. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Insider Activity

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 stock was sold at an average price of $20.59, for a total value of $1,303,120.51. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley raised Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price target on the stock in a report on Wednesday, January 15th. Piper Sandler raised their target price on shares of Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a research note on Wednesday, December 11th. Scotiabank raised shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price target for the company in a research note on Tuesday, December 17th. Compass Point raised their price objective on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Bank of America upped their target price on shares of Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.30.

Macerich Stock Down 0.6 %

NYSE MAC opened at $20.75 on Friday. The Macerich Company has a 1 year low of $12.99 and a 1 year high of $22.27. The stock has a market capitalization of $5.16 billion, a PE ratio of 53.21, a PEG ratio of 0.71 and a beta of 2.51. 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 business’s 50-day moving average is $20.53 and its 200 day moving average is $18.26.

Macerich (NYSE:MAC) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.90). The business had revenue of $220.20 million for the quarter, compared to analysts’ expectations of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. Macerich’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. Sell-side analysts forecast that The Macerich Company will post 1.55 earnings per share for the current year.

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.