International Assets Investment Management LLC Raises Stake in The Macerich Company (NYSE:MAC)

International Assets Investment Management LLC boosted its stake in The Macerich Company (NYSE:MAC - Free Report) by 1,460.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 324,502 shares of the real estate investment trust's stock after purchasing an additional 303,704 shares during the period. International Assets Investment Management LLC owned about 0.15% of Macerich worth $5,007,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MAC. Anchor Investment Management LLC bought a new stake in Macerich during the 4th quarter worth approximately $40,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Macerich in the third quarter worth $36,000. Point72 Hong Kong Ltd bought a new stake in shares of Macerich in the second quarter worth $29,000. Northwestern Mutual Wealth Management Co. increased its holdings in Macerich by 42.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,831 shares of the real estate investment trust's stock valued at $43,000 after purchasing an additional 1,136 shares during the period. Finally, CWM LLC raised its position in Macerich by 51.0% during the 3rd quarter. CWM LLC now owns 5,409 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 1,826 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company's stock.

Macerich Stock Performance

Shares of Macerich stock traded down $0.16 during trading hours on Tuesday, hitting $15.80. 1,739,982 shares of the company's stock traded hands, compared to its average volume of 1,942,543. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of -12.44, a PEG ratio of 1.80 and a beta of 2.33. The company has a fifty day simple moving average of $16.57 and a 200-day simple moving average of $14.30. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.95 and a quick ratio of 0.95. The Macerich Company has a 12-month low of $9.05 and a 12-month high of $17.69.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.26). The firm had revenue of $238.70 million for the quarter, compared to the consensus estimate of $224.49 million. Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. Macerich's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the company posted $0.53 earnings per share. Equities research analysts anticipate that The Macerich Company will post 1.81 EPS for the current fiscal year.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Friday, February 16th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.68 annualized dividend and a dividend yield of 4.30%. Macerich's dividend payout ratio is currently -53.54%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Macerich news, Director Edward C. Coppola sold 20,000 shares of the firm's stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $17.01, for a total value of $340,200.00. Following the completion of the transaction, the director now owns 635,667 shares in the company, valued at approximately $10,812,695.67. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Macerich news, Director Edward C. Coppola sold 20,000 shares of the firm's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.01, for a total value of $340,200.00. Following the completion of the transaction, the director now directly owns 635,667 shares of the company's stock, valued at approximately $10,812,695.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Edward C. Coppola sold 50,000 shares of the company's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total transaction of $860,000.00. Following the completion of the transaction, the president now directly owns 655,667 shares in the company, valued at approximately $11,277,472.40. The disclosure for this sale can be found here. Insiders have sold a total of 172,964 shares of company stock worth $2,940,030 over the last 90 days. Corporate insiders own 0.57% of the company's stock.

Macerich 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.