Federated Hermes Inc. Has $12.73 Million Position in The Macerich Company (NYSE:MAC)

Federated Hermes Inc. raised its stake in shares of The Macerich Company (NYSE:MAC - Free Report) by 11.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 825,297 shares of the real estate investment trust's stock after acquiring an additional 82,113 shares during the period. Federated Hermes Inc. owned approximately 0.38% of Macerich worth $12,734,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Harvest Fund Management Co. Ltd purchased a new stake in Macerich during the 3rd quarter valued at approximately $36,000. Anchor Investment Management LLC purchased a new stake in Macerich during the 4th quarter valued at approximately $40,000. CWM LLC grew its holdings in Macerich by 51.0% during the 3rd quarter. CWM LLC now owns 5,409 shares of the real estate investment trust's stock valued at $59,000 after buying an additional 1,826 shares in the last quarter. Advisor Partners II LLC boosted its position in shares of Macerich by 32.8% during the 3rd quarter. Advisor Partners II LLC now owns 13,547 shares of the real estate investment trust's stock valued at $148,000 after acquiring an additional 3,346 shares during the last quarter. Finally, Independent Wealth Network Inc. bought a new position in shares of Macerich during the 4th quarter valued at approximately $171,000. Institutional investors own 87.38% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on MAC shares. Truist Financial restated a "hold" rating and issued a $16.00 price target on shares of Macerich in a research report on Monday, March 25th. StockNews.com lowered Macerich from a "hold" rating to a "sell" rating in a research note on Thursday, April 18th. The Goldman Sachs Group raised 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. Finally, Citigroup upgraded Macerich from a "sell" rating to a "neutral" rating and lifted their target price for the company from $8.00 to $17.00 in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $14.40.

Insider Transactions at Macerich

In other Macerich news, President Edward C. Coppola sold 50,000 shares of Macerich stock in a transaction that occurred 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 transaction, the president now owns 655,667 shares of the company's stock, valued at $11,277,472.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, President Edward C. Coppola sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total value of $860,000.00. Following the transaction, the president now owns 655,667 shares of the company's stock, valued at $11,277,472.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Hern Thomas E. O sold 7,964 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total value of $130,529.96. Following the completion of the transaction, the director now directly owns 197,900 shares in the company, valued at approximately $3,243,581. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,964 shares of company stock valued at $2,940,030. Corporate insiders own 0.57% of the company's stock.

Macerich Price Performance

Shares of Macerich stock traded down $0.50 on Wednesday, reaching $15.64. The company's stock had a trading volume of 1,505,401 shares, compared to its average volume of 1,902,604. The company has a market capitalization of $3.37 billion, a P/E ratio of -12.31, a PEG ratio of 1.76 and a beta of 2.33. The Macerich Company has a 52-week low of $9.05 and a 52-week high of $17.69. The stock has a 50-day moving average price of $16.43 and a 200-day moving average price of $14.48. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.67.

Macerich (NYSE:MAC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 EPS 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 analysts' expectations of $224.49 million. During the same quarter last year, the firm earned $0.53 earnings per share. The firm's quarterly revenue was up 4.6% compared to the same quarter last year. Analysts expect that The Macerich Company will post 1.8 EPS for the current year.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Friday, February 16th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Thursday, February 15th. Macerich's dividend payout ratio (DPR) is presently -53.54%.

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.