Diligent Investors LLC Sells 1,537 Shares of The Macerich Company (NYSE:MAC)

Diligent Investors LLC trimmed its stake in shares of The Macerich Company (NYSE:MACFree Report) by 6.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 24,072 shares of the real estate investment trust’s stock after selling 1,537 shares during the quarter. Diligent Investors LLC’s holdings in Macerich were worth $371,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Anchor Investment Management LLC bought a new position in Macerich during the 4th quarter worth approximately $40,000. Public Employees Retirement System of Ohio grew its position in Macerich by 7.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 315,971 shares of the real estate investment trust’s stock worth $3,447,000 after acquiring an additional 22,613 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Macerich by 13.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 69,900 shares of the real estate investment trust’s stock worth $763,000 after acquiring an additional 8,145 shares during the last quarter. Walleye Capital LLC bought a new position in Macerich during the 3rd quarter worth approximately $291,000. Finally, Creative Planning lifted its holdings in Macerich by 1.7% in the 3rd quarter. Creative Planning now owns 216,837 shares of the real estate investment trust’s stock worth $2,366,000 after buying an additional 3,551 shares during the period. 90.14% of the stock is currently owned by institutional investors.

Macerich Stock Up 0.1 %

NYSE:MAC traded up $0.02 during trading hours on Tuesday, reaching $16.45. 257,771 shares of the company traded hands, compared to its average volume of 2,067,705. The business’s 50-day moving average price is $16.33 and its two-hundred day moving average price is $13.58. The Macerich Company has a 1 year low of $8.77 and a 1 year high of $17.69. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.67.

Macerich (NYSE:MACGet Free Report) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.26). The business had revenue of $238.70 million during the quarter, compared to the consensus estimate of $224.49 million. Macerich had a negative return on equity of 10.26% and a negative net margin of 31.00%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. On average, equities research analysts expect that The Macerich Company will post 1.8 EPS for the current fiscal year.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Friday, February 16th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Thursday, February 15th. Macerich’s payout ratio is currently -53.54%.

Insider Buying and Selling

In other Macerich news, Director Hern Thomas E. O sold 7,964 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $16.39, for a total transaction of $130,529.96. Following the completion of the sale, the director now owns 197,900 shares of the company’s stock, valued at $3,243,581. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Hern Thomas E. O sold 7,964 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $16.39, for a total value of $130,529.96. Following the transaction, the director now directly owns 197,900 shares in the company, valued at $3,243,581. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Edward C. Coppola sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total value of $860,000.00. Following the completion of the sale, the president now owns 655,667 shares in the company, valued at $11,277,472.40. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MAC has been the subject of several research analyst reports. StockNews.com upgraded Macerich from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. Piper Sandler increased their price objective on Macerich from $12.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, December 20th. Finally, The Goldman Sachs Group raised their target price on Macerich from $9.00 to $13.00 and gave the company a “sell” rating in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.25.

Get Our Latest Analysis on Macerich

About Macerich

(Free Report)

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.

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Want to see what other hedge funds are holding MAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Macerich Company (NYSE:MACFree Report).

Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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