134,653 Shares in The Macerich Company (NYSE:MAC) Acquired by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in The Macerich Company (NYSE:MAC) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 134,653 shares of the real estate investment trust’s stock, valued at approximately $2,682,000.

Other large investors have also recently made changes to their positions in the company. FMR LLC raised its stake in Macerich by 12,475.9% during the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock valued at $214,738,000 after buying an additional 11,679,276 shares during the last quarter. Bamco Inc. NY grew its holdings in Macerich by 742.3% during the third quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock valued at $30,924,000 after purchasing an additional 1,494,145 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Macerich by 399.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust’s stock valued at $28,206,000 after purchasing an additional 1,236,983 shares during the period. Burkehill Global Management LP purchased a new stake in Macerich during the fourth quarter valued at approximately $19,920,000. Finally, Brookfield Corp ON purchased a new stake in shares of Macerich in the third quarter worth approximately $9,217,000. 87.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley raised Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 target price on the stock in a research report on Wednesday, January 15th. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and raised their target price for the stock from $19.00 to $23.00 in a research note on Thursday, January 2nd. Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. The Goldman Sachs Group reduced their price objective on Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a research note on Monday, March 10th. Finally, Scotiabank dropped their target price on Macerich from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.03.

Macerich Stock Up 1.3 %

NYSE:MAC opened at $17.39 on Thursday. 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 stock’s fifty day moving average is $19.35 and its two-hundred day moving average is $19.08. 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 $4.39 billion, a price-to-earnings ratio of 44.59, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich’s payout ratio is currently -86.08%.

Insider Activity

In other news, Director Andrea M. Stephen sold 63,289 shares of the stock in a transaction 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 directly owns 83,479 shares in the company, valued at approximately $1,718,832.61. This trade represents a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

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.