Vert Asset Management LLC Increases Stock Holdings in The Macerich Company (NYSE:MAC)

Vert Asset Management LLC boosted its stake in shares of The Macerich Company (NYSE:MAC) by 16.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 101,486 shares of the real estate investment trust’s stock after buying an additional 14,228 shares during the quarter. Vert Asset Management LLC’s holdings in Macerich were worth $2,022,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. FMR LLC increased its position in Macerich by 12,475.9% during the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock valued at $214,738,000 after acquiring an additional 11,679,276 shares during the last quarter. Bamco Inc. NY grew its holdings in Macerich by 742.3% during the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock valued at $30,924,000 after purchasing an additional 1,494,145 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Macerich by 399.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust’s stock worth $28,206,000 after purchasing an additional 1,236,983 shares during the period. Smead Capital Management Inc. boosted its position in shares of Macerich by 3.5% during the third quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock valued at $372,706,000 after buying an additional 688,790 shares during the period. Finally, Brookfield Corp ON purchased a new position in shares of Macerich during the third quarter valued at approximately $9,217,000. 87.38% of the stock is currently owned by institutional investors.

Macerich Stock Performance

MAC stock opened at $20.87 on Tuesday. The Macerich Company has a one year low of $12.99 and a one year high of $22.27. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 53.50, a PEG ratio of 0.69 and a beta of 2.51. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a 50-day simple moving average of $20.45 and a two-hundred day simple moving average of $18.15.

Macerich (NYSE:MAC) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.90). The firm had revenue of $220.20 million during the quarter, compared to analyst estimates of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. Macerich’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business earned $0.44 earnings per share. On average, equities analysts forecast that The Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Tuesday, November 12th. Macerich’s dividend payout ratio (DPR) is presently 174.36%.

Insiders Place Their Bets

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total value of $1,303,120.51. Following the completion of the transaction, the director now owns 83,479 shares of the company’s stock, valued at approximately $1,718,832.61. This trade represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MAC. Piper Sandler raised their price target on Macerich from $14.00 to $17.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 11th. Compass Point lifted their target price on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Scotiabank raised shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price target on the stock in a research note on Tuesday, December 17th. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and boosted their price objective for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Finally, Morgan Stanley raised shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 target price on the stock in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.30.

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.