Nicola Wealth Management LTD. Takes Position in The Macerich Company (NYSE:MAC)

Nicola Wealth Management LTD. bought a new stake in shares of The Macerich Company (NYSE:MAC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 39,884 shares of the real estate investment trust’s stock, valued at approximately $794,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Macerich by 68.8% in the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,064 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Macerich by 314.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 2,630 shares during the last quarter. GAMMA Investing LLC increased its stake in Macerich by 36.5% during the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock worth $87,000 after buying an additional 1,174 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Macerich during the fourth quarter valued at approximately $99,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Macerich by 34.8% in the third 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 in the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Insider Transactions at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was 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. The trade was 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 available through this link. Company insiders own 0.53% of the company’s stock.

Macerich Stock Performance

Shares of Macerich stock opened at $18.40 on Tuesday. The business’s fifty day simple moving average is $20.17 and its 200-day simple moving average is $18.95. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The firm has a market cap of $4.57 billion, a PE ratio of 47.18, a price-to-earnings-growth ratio of 0.71 and a beta of 2.50. The Macerich Company has a 52 week low of $12.99 and a 52 week high of $22.27.

Macerich Dividend Announcement

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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date is Tuesday, March 4th. Macerich’s dividend payout ratio (DPR) is -86.08%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. StockNews.com downgraded Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a research note on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price target on the stock. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and upped their price objective for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. Piper Sandler decreased their target price on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and upped their price target for the company from $14.00 to $22.00 in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.22.

Macerich Company 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.