Murphy Pohlad Asset Management LLC Increases Stock Position in The Macerich Company (NYSE:MAC)

Murphy Pohlad Asset Management LLC boosted its position in shares of The Macerich Company (NYSE:MAC) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 117,460 shares of the real estate investment trust’s stock after acquiring an additional 2,000 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Macerich were worth $2,340,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MAC. Vert Asset Management LLC increased its stake in shares of Macerich by 16.3% in the fourth quarter. Vert Asset Management LLC now owns 101,486 shares of the real estate investment trust’s stock worth $2,022,000 after purchasing an additional 14,228 shares in the last quarter. KBC Group NV grew its holdings in Macerich by 92.1% during the 4th quarter. KBC Group NV now owns 11,814 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 5,664 shares in the last quarter. Blue Trust Inc. increased its position in Macerich by 68.8% in the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,064 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Macerich by 15.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,118 shares of the real estate investment trust’s stock valued at $1,098,000 after acquiring an additional 7,314 shares during the last quarter. Finally, Perpetual Ltd lifted its stake in shares of Macerich by 24.3% in the 4th quarter. Perpetual Ltd now owns 55,356 shares of the real estate investment trust’s stock valued at $1,103,000 after purchasing an additional 10,830 shares during the last quarter. Institutional investors own 87.38% of the company’s stock.

Insiders Place Their Bets

In other news, Director Andrea M. Stephen sold 63,289 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total value of $1,303,120.51. Following the transaction, the director now owns 83,479 shares of the company’s stock, valued at $1,718,832.61. This represents a 43.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Macerich Stock Down 0.6 %

Macerich stock opened at $20.46 on Thursday. The business has a 50 day simple moving average of $20.49 and a 200-day simple moving average of $18.20. The Macerich Company has a 12 month low of $12.99 and a 12 month high of $22.27. The stock has a market capitalization of $5.09 billion, a PE ratio of 52.47, a price-to-earnings-growth ratio of 0.69 and a beta of 2.51. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

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

Analyst Ratings Changes

A number of research firms have recently commented on MAC. Bank of America upped their target price on Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and upped their target price for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and raised their target price for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. Piper Sandler increased their price objective on shares of Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a research report on Wednesday, December 11th. Finally, StockNews.com cut Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Macerich presently has an average rating of “Hold” and a consensus price target of $19.30.

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.