OVERSEA CHINESE BANKING Corp Ltd Purchases Shares of 134,653 The Macerich Company (NYSE:MAC)

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in The Macerich Company (NYSE:MAC) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 134,653 shares of the real estate investment trust’s stock, valued at approximately $2,682,000. OVERSEA CHINESE BANKING Corp Ltd owned 0.05% of Macerich as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised 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 purchasing an additional 1,064 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Macerich by 314.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 2,630 shares during the period. GAMMA Investing LLC raised 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 purchasing an additional 1,174 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Macerich during the fourth quarter worth approximately $99,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Macerich during the fourth quarter worth approximately $212,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of the stock in a transaction on 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 completion of the transaction, the director now owns 83,479 shares in the company, valued at approximately $1,718,832.61. This represents a 43.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Macerich Stock Up 1.3 %

Shares of NYSE:MAC opened at $17.39 on Thursday. The company has a market capitalization of $4.39 billion, a PE ratio of 44.59, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. 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 business has a fifty day moving average price of $19.35 and a two-hundred day moving average price of $19.08. The Macerich Company has a 1 year low of $12.99 and a 1 year high of $22.27.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 3.91%. Macerich’s payout ratio is -86.08%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MAC. Morgan Stanley raised 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. Jefferies Financial Group raised 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 research report on Thursday, January 2nd. Mizuho raised Macerich from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. JPMorgan Chase & Co. lowered their price target on Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a research report on Monday, March 10th. Finally, The Goldman Sachs Group lowered their price target on Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a research report on Monday, March 10th. Four equities 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. According to MarketBeat, Macerich currently has a consensus rating of “Hold” and a consensus target price of $19.03.

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.