The Macerich Company (NYSE:MAC) Shares Acquired by Berkeley Capital Partners LLC

Berkeley Capital Partners LLC increased its holdings in The Macerich Company (NYSE:MAC) by 4.1% during the 4th quarter, HoldingsChannel reports. The fund owned 64,401 shares of the real estate investment trust’s stock after acquiring an additional 2,553 shares during the quarter. Berkeley Capital Partners LLC’s holdings in Macerich were worth $1,283,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MAC. FMR LLC lifted its stake in shares of Macerich by 12,475.9% in the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock worth $214,738,000 after acquiring an additional 11,679,276 shares in the last quarter. Bamco Inc. NY increased its holdings in Macerich by 742.3% in 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 buying an additional 1,494,145 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Macerich by 399.8% in 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 buying an additional 1,236,983 shares during the last quarter. Burkehill Global Management LP bought a new stake in Macerich in the fourth quarter valued at about $19,920,000. Finally, Brookfield Corp ON bought a new stake in Macerich in the third quarter valued at about $9,217,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Price Performance

Shares of NYSE:MAC opened at $17.39 on Thursday. The company’s fifty day moving average is $19.35 and its two-hundred day moving average is $19.08. 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 Macerich Company has a 12-month low of $12.99 and a 12-month high of $22.27. The company has a market cap of $4.39 billion, a P/E ratio of 44.59, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich’s dividend payout ratio (DPR) is currently -86.08%.

Insider Buying and Selling at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the sale, the director now directly owns 83,479 shares of the company’s stock, valued at $1,718,832.61. The trade was a 43.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MAC. Piper Sandler lowered their price objective on Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, February 28th. The Goldman Sachs Group lowered their price objective on Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a report on Monday, March 10th. Scotiabank lowered their target price on Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a report on Thursday, March 6th. Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and upped their target price for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. lowered their target price on Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a report on Monday, March 10th. Four research 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 MarketBeat.com, Macerich currently has a consensus rating of “Hold” and a consensus price target of $19.03.

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.