Aew Capital Management L P Purchases 453,180 Shares of The Macerich Company (NYSE:MAC)

Aew Capital Management L P increased its position in shares of The Macerich Company (NYSE:MAC) by 26.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,170,006 shares of the real estate investment trust’s stock after acquiring an additional 453,180 shares during the period. Macerich makes up about 2.1% of Aew Capital Management L P’s holdings, making the stock its 16th biggest position. Aew Capital Management L P owned 0.87% of Macerich worth $43,227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. grew its stake in Macerich by 152.2% in the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 933 shares in the last quarter. GAMMA Investing LLC grew its stake in Macerich by 36.5% in the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock worth $87,000 after buying an additional 1,174 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Macerich in the 4th quarter worth approximately $99,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Macerich by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 2,161 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Macerich in the 4th quarter worth approximately $212,000. Institutional investors own 87.38% of the company’s stock.

Macerich Trading Down 1.6 %

NYSE:MAC opened at $18.04 on Friday. The company has a fifty day moving average of $20.21 and a 200 day moving average of $18.86. The Macerich Company has a 52 week low of $12.99 and a 52 week high of $22.27. 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 firm has a market capitalization of $4.48 billion, a P/E ratio of 46.24, a P/E/G ratio of 0.71 and a beta of 2.50.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a yield of 3.77%. Macerich’s dividend payout ratio is currently -86.08%.

Insider Activity at Macerich

In related news, Director Andrea M. Stephen sold 63,289 shares of the company’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 in the company, valued at $1,718,832.61. This represents a 43.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MAC has been the subject of a number of research reports. Compass Point boosted their price target on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and boosted their price target for the stock from $19.00 to $23.00 in a research note on Thursday, January 2nd. Morgan Stanley raised shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective for the company in a research note on Wednesday, January 15th. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a research note on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.22.

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.