Victory Capital Management Inc. Buys 1,930 Shares of The Macerich Company (NYSE:MAC)

Victory Capital Management Inc. raised its stake in The Macerich Company (NYSE:MAC) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,988 shares of the real estate investment trust’s stock after purchasing an additional 1,930 shares during the quarter. Victory Capital Management Inc.’s holdings in Macerich were worth $1,812,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Nicola Wealth Management LTD. purchased a new stake in Macerich in the 4th quarter valued at $794,000. Charles Schwab Investment Management Inc. lifted its position in shares of Macerich by 7.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,171,300 shares of the real estate investment trust’s stock valued at $103,012,000 after purchasing an additional 369,931 shares in the last quarter. B&I Capital AG bought a new position in shares of Macerich during the fourth quarter valued at about $7,379,000. Smartleaf Asset Management LLC boosted its holdings in 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 worth $69,000 after purchasing an additional 2,630 shares during the last quarter. Finally, Hanover Advisors Inc. bought a new stake in Macerich in the 4th quarter worth about $314,000. Institutional investors own 87.38% of the company’s stock.

Wall Street Analysts Forecast Growth

MAC has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Macerich in a research note on Tuesday, December 17th. They issued a “hold” rating and a $22.00 target price on the stock. Mizuho raised Macerich from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and lifted their target price for the stock from $19.00 to $23.00 in a research note on Thursday, January 2nd. Morgan Stanley upgraded shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price target for the company in a research report on Wednesday, January 15th. Finally, Piper Sandler lowered their price objective 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. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.03.

Macerich Trading Up 3.7 %

Shares of MAC stock opened at $17.10 on Tuesday. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 0.71 and a beta of 2.62. The company’s fifty day simple moving average is $19.48 and its two-hundred day simple moving average is $19.09. The Macerich Company has a 1 year low of $12.99 and a 1 year high of $22.27. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be given a $0.17 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.98%. Macerich’s dividend payout ratio (DPR) is currently -86.08%.

Insider Buying and Selling at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 83,479 shares of the company’s stock, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.