Aew Capital Management L P Boosts Holdings in The Macerich Company (NYSE:MAC)

Aew Capital Management L P lifted its stake in The Macerich Company (NYSE:MAC) by 26.4% in the 4th quarter, HoldingsChannel reports. The firm owned 2,170,006 shares of the real estate investment trust’s stock after buying an additional 453,180 shares during the quarter. Macerich accounts for 2.1% of Aew Capital Management L P’s portfolio, making the stock its 16th biggest position. Aew Capital Management L P’s holdings in Macerich were worth $43,227,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. lifted its position in shares of Macerich by 152.2% in the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 933 shares during the period. GAMMA Investing LLC lifted its position in shares of Macerich by 36.5% in the 4th 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 purchased a new stake in shares of Macerich in the 4th quarter worth about $99,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Macerich by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock valued at $150,000 after acquiring an additional 2,161 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in Macerich during the 4th quarter valued at about $212,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MAC. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $14.00 to $22.00 in a research report on Wednesday, December 4th. Morgan Stanley raised shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price target for the company in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft began coverage on shares of Macerich in a research report on Tuesday, December 17th. They set a “hold” rating and a $22.00 price target for the company. StockNews.com cut shares of Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Piper Sandler lowered their price target on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Macerich currently has a consensus rating of “Hold” and a consensus price target of $19.22.

Macerich Stock Down 1.6 %

Shares of Macerich stock opened at $18.04 on Friday. The company has a 50-day simple moving average of $20.21 and a two-hundred day simple moving average of $18.86. The Macerich Company has a 52-week low of $12.99 and a 52-week high of $22.27. The stock has a market capitalization of $4.48 billion, a PE ratio of 46.24, a price-to-earnings-growth ratio of 0.71 and a beta of 2.50. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.77%. Macerich’s dividend payout ratio 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.