Charles Schwab Investment Management Inc. Has $71.82 Million Position in The Macerich Company (NYSE:MAC)

Charles Schwab Investment Management Inc. lifted its stake in The Macerich Company (NYSE:MAC - Free Report) by 3.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,654,465 shares of the real estate investment trust's stock after purchasing an additional 165,649 shares during the period. Charles Schwab Investment Management Inc. owned 2.16% of Macerich worth $71,818,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kennedy Capital Management LLC grew its stake in shares of Macerich by 0.9% during the 3rd quarter. Kennedy Capital Management LLC now owns 1,540,033 shares of the real estate investment trust's stock valued at $16,802,000 after acquiring an additional 14,131 shares during the period. AQR Capital Management LLC grew its position in shares of Macerich by 1.5% during the third quarter. AQR Capital Management LLC now owns 1,213,677 shares of the real estate investment trust's stock worth $13,241,000 after purchasing an additional 18,325 shares in the last quarter. Federated Hermes Inc. raised its stake in Macerich by 11.0% during the 4th quarter. Federated Hermes Inc. now owns 825,297 shares of the real estate investment trust's stock valued at $12,734,000 after purchasing an additional 82,113 shares during the period. Invesco Ltd. lifted its holdings in Macerich by 15.3% in the 3rd quarter. Invesco Ltd. now owns 579,573 shares of the real estate investment trust's stock worth $6,323,000 after purchasing an additional 76,888 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in Macerich by 5.6% in the 3rd quarter. LPL Financial LLC now owns 475,570 shares of the real estate investment trust's stock worth $5,188,000 after purchasing an additional 25,076 shares during the period. 87.38% of the stock is owned by institutional investors.

Insider Buying and Selling at Macerich

In other news, CEO Jackson Hsieh bought 140,000 shares of the stock in a transaction on Monday, May 6th. The stock was acquired at an average cost of $14.26 per share, for a total transaction of $1,996,400.00. Following the acquisition, the chief executive officer now owns 170,500 shares of the company's stock, valued at $2,431,330. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Macerich news, President Edward C. Coppola sold 50,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total transaction of $860,000.00. Following the completion of the sale, the president now directly owns 655,667 shares of the company's stock, valued at $11,277,472.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jackson Hsieh acquired 140,000 shares of Macerich stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average price of $14.26 per share, with a total value of $1,996,400.00. Following the purchase, the chief executive officer now owns 170,500 shares in the company, valued at $2,431,330. The disclosure for this purchase can be found here. In the last three months, insiders purchased 163,365 shares of company stock valued at $2,358,681 and sold 172,964 shares valued at $2,940,030. 0.53% of the stock is owned by corporate insiders.

Macerich Trading Down 3.5 %

Shares of MAC stock traded down $0.58 on Wednesday, reaching $15.92. 3,223,078 shares of the company's stock were exchanged, compared to its average volume of 2,062,567. The company's fifty day simple moving average is $15.92 and its 200 day simple moving average is $14.96. The stock has a market capitalization of $3.43 billion, a PE ratio of -10.21, a P/E/G ratio of 1.78 and a beta of 2.38. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. The Macerich Company has a 52 week low of $9.05 and a 52 week high of $17.69.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, May 17th. This represents a $0.68 dividend on an annualized basis and a yield of 4.27%. Macerich's payout ratio is -43.59%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MAC shares. StockNews.com downgraded shares of Macerich from a "hold" rating to a "sell" rating in a report on Tuesday, April 30th. Mizuho decreased their target price on Macerich from $17.00 to $14.00 and set an "underperform" rating on the stock in a research report on Wednesday, May 1st. Compass Point cut their price target on Macerich from $20.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, May 1st. Truist Financial reaffirmed a "hold" rating and set a $16.00 price objective on shares of Macerich in a report on Monday, March 25th. Finally, Citigroup raised shares of Macerich from a "sell" rating to a "neutral" rating and upped their price target for the company from $8.00 to $17.00 in a research note on Friday, March 22nd. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has 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 target price of $14.83.

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.