Rhumbline Advisers Raises Holdings in The Macerich Company (NYSE:MAC)

Rhumbline Advisers boosted its stake in shares of The Macerich Company (NYSE:MAC) by 5.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 775,751 shares of the real estate investment trust’s stock after acquiring an additional 42,873 shares during the quarter. Rhumbline Advisers owned 0.31% of Macerich worth $15,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its position 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 valued at $28,000 after purchasing an additional 933 shares during the last quarter. GAMMA Investing LLC raised its position in Macerich by 36.5% during the 4th 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Macerich by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock worth $150,000 after acquiring an additional 2,161 shares in the last quarter. Custom Index Systems LLC raised its position in shares of Macerich by 8.7% in the 4th quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust’s stock worth $232,000 after acquiring an additional 928 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Macerich by 92.1% in the 4th quarter. KBC Group NV now owns 11,814 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 5,664 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

Analysts Set New Price Targets

MAC has been the subject of several research reports. Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and increased their target price for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. Morgan Stanley raised Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 target price for the company in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft initiated coverage on Macerich in a research report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 target price for the company. Compass Point raised their price objective on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Piper Sandler raised their price objective on Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a research report on Wednesday, December 11th. Three 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.30.

Macerich Stock Performance

Macerich stock opened at $19.86 on Friday. The company has a 50 day moving average price of $20.31 and a 200-day moving average price of $18.76. 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 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 capitalization of $4.93 billion, a PE ratio of 50.91, a P/E/G ratio of 0.71 and a beta of 2.50.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Tuesday, March 4th. Macerich’s dividend payout ratio (DPR) is 174.36%.

Insider Buying and Selling

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 shares were 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 of the company’s stock, valued at $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.

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.