Metis Global Partners LLC Boosts Stock Holdings in The Macerich Company (NYSE:MAC)

Metis Global Partners LLC boosted its position in The Macerich Company (NYSE:MAC) by 21.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,061 shares of the real estate investment trust’s stock after purchasing an additional 4,819 shares during the period. Metis Global Partners LLC’s holdings in Macerich were worth $539,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 1,064 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Macerich by 36.5% during the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock worth $87,000 after acquiring an additional 1,174 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Macerich during the fourth quarter worth $99,000. Sanctuary Advisors LLC purchased a new stake in shares of Macerich during the fourth quarter worth $212,000. Finally, Custom Index Systems LLC lifted its position in shares of Macerich by 8.7% during the fourth quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust’s stock worth $232,000 after acquiring an additional 928 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Insider Activity at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Morgan Stanley upgraded 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. Scotiabank upgraded Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 target price on the stock in a research report on Tuesday, December 17th. Compass Point upped their price target on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com cut shares of Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Piper Sandler decreased their price target on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, February 28th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Macerich has a consensus rating of “Hold” and an average price target of $19.22.

Macerich Stock Up 2.2 %

MAC opened at $18.19 on Thursday. The stock has a market cap of $4.59 billion, a PE ratio of 46.64, a P/E/G ratio of 0.71 and a beta of 2.62. 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 52 week low of $12.99 and a 52 week high of $22.27. The business’s fifty day simple moving average is $20.08 and its 200 day simple moving average is $18.99.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a yield of 3.74%. Macerich’s dividend payout ratio is presently -86.08%.

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.