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

Swiss National Bank increased its stake in shares of The Macerich Company (NYSE:MAC) by 16.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 488,815 shares of the real estate investment trust’s stock after acquiring an additional 67,700 shares during the quarter. Swiss National Bank owned about 0.20% of Macerich worth $9,737,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC increased its stake in Macerich by 12,475.9% in the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock valued at $214,738,000 after purchasing an additional 11,679,276 shares during the period. Bamco Inc. NY increased its stake in 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 purchasing an additional 1,494,145 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Macerich by 399.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust’s stock valued at $28,206,000 after purchasing an additional 1,236,983 shares during the period. Burkehill Global Management LP acquired a new position in Macerich in the fourth quarter valued at $19,920,000. Finally, Brookfield Corp ON acquired a new position in Macerich in the third quarter valued at $9,217,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the company’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 sale, the director now owns 83,479 shares of the company’s stock, valued at $1,718,832.61. This represents a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MAC shares. Morgan Stanley upgraded shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock in a research note on Wednesday, January 15th. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and lifted their target price for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. lowered their target price on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a report on Monday, March 10th. The Goldman Sachs Group lowered their target price on shares of Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a report on Monday, March 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.03.

Macerich Stock Down 0.1 %

MAC stock opened at $17.27 on Friday. The Macerich Company has a 52 week low of $12.99 and a 52 week high of $22.27. The company has a market cap of $4.36 billion, a P/E ratio of 44.27, a P/E/G ratio of 0.71 and a beta of 2.62. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The company’s 50-day moving average price is $19.25 and its 200 day moving average price is $19.08.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.94%. The ex-dividend date was Tuesday, March 4th. Macerich’s dividend payout ratio (DPR) is presently -86.08%.

About Macerich

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.