Twelve Points Wealth Management LLC Trims Stock Holdings in The Macerich Company (NYSE:MAC)

Twelve Points Wealth Management LLC decreased its holdings in The Macerich Company (NYSE:MACFree Report) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,229 shares of the real estate investment trust’s stock after selling 759 shares during the period. Twelve Points Wealth Management LLC’s holdings in Macerich were worth $312,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MAC. JPMorgan Chase & Co. boosted its position in shares of Macerich by 193.4% in the second quarter. JPMorgan Chase & Co. now owns 19,709,004 shares of the real estate investment trust’s stock valued at $222,120,000 after acquiring an additional 12,992,543 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Macerich by 867.8% in the second quarter. Goldman Sachs Group Inc. now owns 8,732,108 shares of the real estate investment trust’s stock valued at $98,411,000 after acquiring an additional 7,829,876 shares during the period. Prudential Financial Inc. boosted its position in shares of Macerich by 1,536.8% in the first quarter. Prudential Financial Inc. now owns 4,783,022 shares of the real estate investment trust’s stock valued at $74,806,000 after acquiring an additional 4,490,809 shares during the period. Norges Bank bought a new position in shares of Macerich in the fourth quarter valued at approximately $22,702,000. Finally, Cbre Investment Management Listed Real Assets LLC boosted its position in shares of Macerich by 87.2% in the second quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,315,192 shares of the real estate investment trust’s stock valued at $37,362,000 after acquiring an additional 1,544,046 shares during the period. Hedge funds and other institutional investors own 90.14% of the company’s stock.

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 on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total transaction of $130,529.96. Following the transaction, the director now directly owns 197,900 shares of the company’s stock, valued at approximately $3,243,581. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Macerich news, Director Hern Thomas E. O sold 7,964 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total transaction of $130,529.96. Following the transaction, the director now directly owns 197,900 shares of the company’s stock, valued at approximately $3,243,581. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Edward C. Coppola sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total transaction of $860,000.00. Following the transaction, the president now directly owns 655,667 shares in the company, valued at $11,277,472.40. The disclosure for this sale can be found here. Insiders have sold a total of 152,964 shares of company stock valued at $2,599,830 over the last three months. 0.57% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Macerich from $12.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, December 20th. StockNews.com upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Citigroup upgraded shares of Macerich from a “sell” rating to a “neutral” rating and lifted their target price for the company from $8.00 to $17.00 in a research report on Friday. Finally, The Goldman Sachs Group lifted their target price on shares of Macerich from $9.00 to $13.00 and gave the company a “sell” rating in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.00.

View Our Latest Stock Analysis on MAC

Macerich Stock Down 1.4 %

Shares of MAC opened at $17.00 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.95 and a current ratio of 0.95. The Macerich Company has a fifty-two week low of $8.77 and a fifty-two week high of $17.69. The firm has a 50 day moving average price of $16.43 and a 200-day moving average price of $13.70.

Macerich (NYSE:MACGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share 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 company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 earnings per share. As a group, research analysts forecast that The Macerich Company will post 1.8 earnings per share for the current year.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Friday, February 16th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Thursday, February 15th. Macerich’s payout ratio is -53.54%.

Macerich Profile

(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.

Further Reading

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Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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