The Macerich Company (NYSE:MAC) Shares Acquired by Swiss National Bank

Swiss National Bank increased its position in The Macerich Company (NYSE:MAC) by 16.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 488,815 shares of the real estate investment trust’s stock after acquiring an additional 67,700 shares during the period. Swiss National Bank’s holdings in Macerich were worth $9,737,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Citigroup Inc. raised its position in shares of Macerich by 32.3% in the third quarter. Citigroup Inc. now owns 359,069 shares of the real estate investment trust’s stock valued at $6,549,000 after buying an additional 87,611 shares during the last quarter. Quest Partners LLC raised its position in shares of Macerich by 851.9% in the third quarter. Quest Partners LLC now owns 30,529 shares of the real estate investment trust’s stock valued at $557,000 after buying an additional 27,322 shares during the last quarter. Bamco Inc. NY raised its position in shares of Macerich by 742.3% in the third quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock valued at $30,924,000 after buying an additional 1,494,145 shares during the last quarter. Friedenthal Financial acquired a new position in shares of Macerich in the fourth quarter valued at approximately $771,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Macerich by 314.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 2,630 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Analyst Ratings Changes

MAC has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a research report on Tuesday, December 17th. They set a “hold” rating and a $22.00 price target for the company. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and upped their price target for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. JPMorgan Chase & Co. dropped their price target on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a research report on Monday, March 10th. Finally, Piper Sandler dropped their price target on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, February 28th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.03.

Macerich Price Performance

MAC opened at $17.27 on Friday. The company has a fifty day simple moving average of $19.25 and a 200 day simple moving average of $19.08. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 44.27, a PEG ratio of 0.71 and a beta of 2.62. The Macerich Company has a twelve month low of $12.99 and a twelve month high of $22.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Tuesday, March 4th. Macerich’s payout ratio is -86.08%.

Insider Activity at Macerich

In related 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 transaction of $1,303,120.51. Following the completion of the sale, the director now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

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.