The Macerich Company (NYSE:MAC) Shares Acquired by Raymond James & Associates

Raymond James & Associates lifted its stake in shares of The Macerich Company (NYSE:MAC) by 52.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,631 shares of the real estate investment trust’s stock after acquiring an additional 12,980 shares during the period. Raymond James & Associates’ holdings in Macerich were worth $581,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MAC. Harvest Fund Management Co. Ltd purchased a new position in Macerich during the third quarter worth about $36,000. Anchor Investment Management LLC purchased a new position in Macerich during the fourth quarter worth about $40,000. CWM LLC lifted its position in Macerich by 51.0% during the third quarter. CWM LLC now owns 5,409 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 1,826 shares during the period. Advisor Partners II LLC lifted its position in Macerich by 32.8% during the third quarter. Advisor Partners II LLC now owns 13,547 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 3,346 shares during the period. Finally, Independent Wealth Network Inc. purchased a new position in Macerich during the fourth quarter worth about $171,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Citigroup upgraded Macerich from a “sell” rating to a “neutral” rating and increased their target price for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd. StockNews.com downgraded Macerich from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Truist Financial restated a “hold” rating and issued a $16.00 price objective on shares of Macerich in a report on Monday, March 25th. Finally, The Goldman Sachs Group raised their price objective on Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.40.

Macerich Stock Performance

Macerich stock opened at $15.39 on Friday. The company has a market cap of $3.32 billion, a price-to-earnings ratio of -12.05, a price-to-earnings-growth ratio of 1.81 and a beta of 2.33. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.95 and a quick ratio of 0.95. The Macerich Company has a 12 month low of $9.05 and a 12 month high of $17.69. The stock’s 50-day moving average is $16.40 and its 200-day moving average is $14.48.

Macerich (NYSE:MAC) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.26). The company had revenue of $238.70 million for the quarter, compared to analysts’ expectations of $224.49 million. Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. Equities analysts anticipate that The Macerich Company will post 1.8 earnings per share for the current year.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Friday, February 16th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.68 annualized dividend and a dividend yield of 4.42%. Macerich’s payout ratio is currently -53.54%.

Insider Activity at Macerich

In related news, President Edward C. Coppola sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total transaction of $860,000.00. Following the sale, the president now directly owns 655,667 shares in the company, valued at approximately $11,277,472.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Macerich news, President Edward C. Coppola sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total transaction of $860,000.00. Following the completion of the sale, the president now owns 655,667 shares in the company, valued at approximately $11,277,472.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Hern Thomas E. O sold 7,964 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total value of $130,529.96. Following the sale, the director now owns 197,900 shares of the company’s stock, valued at approximately $3,243,581. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 172,964 shares of company stock worth $2,940,030. 0.57% of the stock is currently owned by company insiders.

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.