Sanctuary Advisors LLC Acquires Shares of 10,170 The Macerich Company (NYSE:MAC)

Sanctuary Advisors LLC bought a new stake in The Macerich Company (NYSE:MAC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,170 shares of the real estate investment trust’s stock, valued at approximately $212,000.

Other institutional investors have also recently made changes to their positions in the company. Citigroup Inc. raised its stake in shares of Macerich by 32.3% during the 3rd quarter. Citigroup Inc. now owns 359,069 shares of the real estate investment trust’s stock valued at $6,549,000 after purchasing an additional 87,611 shares during the period. Quest Partners LLC boosted its stake in Macerich by 851.9% in the 3rd quarter. Quest Partners LLC now owns 30,529 shares of the real estate investment trust’s stock worth $557,000 after purchasing an additional 27,322 shares during the period. Bamco Inc. NY grew its holdings in Macerich by 742.3% during the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock valued at $30,924,000 after buying an additional 1,494,145 shares in the last quarter. Friedenthal Financial bought a new position in Macerich in the 4th quarter valued at $771,000. Finally, Smead Capital Management Inc. grew its position in shares of Macerich by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock valued at $372,706,000 after purchasing an additional 688,790 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

MAC has been the subject of a number of research analyst reports. 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. Mizuho raised Macerich from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. Scotiabank raised Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 target price for the company in a research note on Tuesday, December 17th. Piper Sandler reduced their price target on Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, February 28th. Finally, Jefferies Financial Group upgraded shares of Macerich from a “hold” rating to a “buy” rating and upped their price target for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.22.

Macerich Trading Up 2.2 %

MAC opened at $18.19 on Thursday. The stock has a market cap of $4.59 billion, a PE ratio of 46.64, a PEG ratio of 0.71 and a beta of 2.62. The business has a 50 day moving average of $20.08 and a 200-day moving average of $18.99. The Macerich Company has a 52 week low of $12.99 and a 52 week high of $22.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Tuesday, March 4th. Macerich’s dividend payout ratio (DPR) is presently -86.08%.

Insider Buying and Selling at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the completion of the transaction, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

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.