Phocas Financial Corp. Has $6.36 Million Stock Holdings in The Macerich Company (NYSE:MAC)

Phocas Financial Corp. lifted its position in shares of The Macerich Company (NYSE:MAC - Free Report) by 52.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 412,418 shares of the real estate investment trust's stock after acquiring an additional 141,356 shares during the period. Phocas Financial Corp. owned 0.19% of Macerich worth $6,364,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Macerich by 0.4% during the third quarter. Vanguard Group Inc. now owns 30,989,432 shares of the real estate investment trust's stock worth $246,057,000 after acquiring an additional 136,337 shares during the last quarter. BlackRock Inc. grew its position in shares of Macerich by 0.7% during the first quarter. BlackRock Inc. now owns 30,909,711 shares of the real estate investment trust's stock worth $327,643,000 after acquiring an additional 224,394 shares during the last quarter. State Street Corp grew its position in shares of Macerich by 6.3% during the second quarter. State Street Corp now owns 14,327,975 shares of the real estate investment trust's stock worth $161,476,000 after acquiring an additional 855,355 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Macerich by 867.8% during the second quarter. Goldman Sachs Group Inc. now owns 8,732,108 shares of the real estate investment trust's stock worth $98,411,000 after acquiring an additional 7,829,876 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Macerich by 3.1% in the first quarter. JPMorgan Chase & Co. now owns 6,716,461 shares of the real estate investment trust's stock worth $71,194,000 after purchasing an additional 203,180 shares during the period. Institutional investors own 87.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MAC. Citigroup raised shares of Macerich from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $8.00 to $17.00 in a report on Friday, March 22nd. StockNews.com raised shares of Macerich from a "sell" rating to a "hold" rating in a report on Tuesday, March 12th. The Goldman Sachs Group upped their price objective on shares of Macerich from $9.00 to $13.00 and gave the stock a "sell" rating in a report on Thursday, January 11th. Piper Sandler upped their price objective on shares of Macerich from $12.00 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, December 20th. Finally, Truist Financial reaffirmed a "hold" rating and issued a $16.00 price objective on shares of Macerich in a report on Monday, March 25th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $14.40.

Insider Buying and Selling at Macerich

In other Macerich news, Director Hern Thomas E. O sold 95,000 shares of the company's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $16.94, for a total transaction of $1,609,300.00. Following the completion of the sale, the director now directly owns 102,900 shares of the company's stock, valued at $1,743,126. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Hern Thomas E. O sold 95,000 shares of the company's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $16.94, for a total value of $1,609,300.00. Following the transaction, the director now owns 102,900 shares in the company, valued at approximately $1,743,126. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Edward C. Coppola sold 50,000 shares of the company's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total value of $860,000.00. Following the completion of the transaction, the president now owns 655,667 shares in the company, valued at approximately $11,277,472.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,964 shares of company stock valued at $2,940,030. 0.57% of the stock is currently owned by corporate insiders.

Macerich Price Performance

NYSE MAC traded down $0.14 on Friday, reaching $16.08. The company's stock had a trading volume of 1,646,158 shares, compared to its average volume of 1,457,280. The Macerich Company has a twelve month low of $9.05 and a twelve month high of $17.69. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $3.47 billion, a PE ratio of -12.66, a PEG ratio of 1.80 and a beta of 2.33. The firm's 50 day moving average is $16.58 and its two-hundred day moving average is $14.24.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.26). Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The business had revenue of $238.70 million during the quarter, compared to analyst estimates of $224.49 million. During the same period in the previous year, the company posted $0.53 earnings per share. Macerich's revenue was up 4.6% compared to the same quarter last year. As a group, sell-side analysts predict that The Macerich Company will post 1.81 EPS for the current year.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Friday, February 16th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Thursday, February 15th. Macerich's dividend payout ratio is presently -53.54%.

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.