Financial Management Network Inc. Buys 1,339 Shares of The Macerich Company (NYSE:MAC)

Financial Management Network Inc. raised its stake in The Macerich Company (NYSE:MAC) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 30,854 shares of the real estate investment trust’s stock after purchasing an additional 1,339 shares during the quarter. Financial Management Network Inc.’s holdings in Macerich were worth $634,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Citigroup Inc. increased its holdings in Macerich by 32.3% in the 3rd quarter. Citigroup Inc. now owns 359,069 shares of the real estate investment trust’s stock valued at $6,549,000 after acquiring an additional 87,611 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Macerich by 851.9% in the 3rd quarter. Quest Partners LLC now owns 30,529 shares of the real estate investment trust’s stock worth $557,000 after buying an additional 27,322 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of Macerich by 742.3% in the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock worth $30,924,000 after buying an additional 1,494,145 shares during the last quarter. Smead Capital Management Inc. increased its holdings in shares of Macerich by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock worth $372,706,000 after buying an additional 688,790 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Macerich in the 4th quarter worth about $771,000. 87.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Scotiabank upgraded shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 target price on the stock in a report on Tuesday, December 17th. Piper Sandler boosted their target price on shares of Macerich from $14.00 to $17.00 and gave the stock an “underweight” rating in a report on Wednesday, December 11th. Compass Point boosted their target price on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Macerich in a research note on Tuesday, December 17th. They set a “hold” rating and a $22.00 price target for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Macerich presently has an average rating of “Hold” and a consensus price target of $19.30.

Macerich Price Performance

Macerich stock opened at $20.82 on Wednesday. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 53.37, a price-to-earnings-growth ratio of 0.71 and a beta of 2.50. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The Macerich Company has a 1 year low of $12.99 and a 1 year high of $22.27. The firm has a 50-day moving average of $20.37 and a two-hundred day moving average of $18.67.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.68 annualized dividend and a yield of 3.27%. Macerich’s dividend payout ratio (DPR) is 174.36%.

Insider Buying and Selling at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 83,479 shares of the company’s stock, valued at $1,718,832.61. The trade was a 43.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by corporate insiders.

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.