RBF Capital LLC Purchases Shares of 20,000 The Macerich Company (NYSE:MAC)

RBF Capital LLC acquired a new position in shares of The Macerich Company (NYSE:MAC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,000 shares of the real estate investment trust's stock, valued at approximately $398,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC raised its stake in Macerich by 9.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,787 shares of the real estate investment trust's stock valued at $118,000 after purchasing an additional 512 shares during the period. M&T Bank Corp lifted its holdings in shares of Macerich by 2.8% during the 4th quarter. M&T Bank Corp now owns 20,228 shares of the real estate investment trust's stock valued at $403,000 after buying an additional 543 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Macerich by 5.7% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 12,234 shares of the real estate investment trust's stock valued at $244,000 after buying an additional 665 shares during the last quarter. Custom Index Systems LLC lifted its holdings in shares of Macerich by 8.7% during the 4th quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust's stock valued at $232,000 after buying an additional 928 shares during the last quarter. Finally, Townsquare Capital LLC lifted its holdings in shares of Macerich by 7.0% during the 4th quarter. Townsquare Capital LLC now owns 14,395 shares of the real estate investment trust's stock valued at $287,000 after buying an additional 947 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Trading Down 1.5 %

NYSE MAC traded down $0.23 during trading on Tuesday, reaching $14.85. 280,870 shares of the stock traded hands, compared to its average volume of 1,993,324. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17. The stock's 50-day moving average price is $16.40 and its 200 day moving average price is $18.75. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a fifty-two week low of $12.48 and a fifty-two week high of $22.27.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.58%. Macerich's payout ratio is currently -86.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and lifted their price target for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Morgan Stanley cut their price objective on Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. JPMorgan Chase & Co. dropped their price target on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research report on Monday, March 10th. Scotiabank dropped their price target on Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group dropped their price target on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research report on Monday, March 10th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Macerich presently has an average rating of "Hold" and an average price target of $18.95.

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.