Bailard Inc. Buys New Stake in The Macerich Company (NYSE:MAC)

Bailard Inc. bought a new position in The Macerich Company (NYSE:MAC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,300 shares of the real estate investment trust’s stock, valued at approximately $159,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in shares of Macerich by 1,460.3% during the 4th quarter. International Assets Investment Management LLC now owns 324,502 shares of the real estate investment trust’s stock worth $5,007,000 after purchasing an additional 303,704 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Macerich by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,488,816 shares of the real estate investment trust’s stock valued at $48,973,000 after acquiring an additional 31,445 shares during the period. Barclays PLC grew its stake in shares of Macerich by 91.0% in the third quarter. Barclays PLC now owns 221,834 shares of the real estate investment trust’s stock worth $2,421,000 after acquiring an additional 105,663 shares during the last quarter. SG Americas Securities LLC increased its position in Macerich by 642.9% during the third quarter. SG Americas Securities LLC now owns 115,705 shares of the real estate investment trust’s stock worth $1,262,000 after acquiring an additional 100,131 shares during the period. Finally, Invesco Ltd. raised its stake in Macerich by 15.3% during the 3rd quarter. Invesco Ltd. now owns 579,573 shares of the real estate investment trust’s stock valued at $6,323,000 after purchasing an additional 76,888 shares during 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 Hern Thomas E. O sold 7,964 shares of Macerich stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $16.39, for a total value of $130,529.96. Following the completion of the transaction, the director now owns 197,900 shares in the company, valued at approximately $3,243,581. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Macerich news, President Edward C. Coppola sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total value of $860,000.00. Following the completion of the transaction, the president now directly owns 655,667 shares of the company’s stock, valued at $11,277,472.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Hern Thomas E. O sold 7,964 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 197,900 shares in the company, valued at $3,243,581. The disclosure for this sale can be found here. Insiders have sold 172,964 shares of company stock valued at $2,940,030 in the last three months. 0.53% of the stock is owned by corporate insiders.

Macerich Stock Performance

Macerich stock opened at $16.01 on Tuesday. 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 one year low of $9.05 and a one year high of $17.69. The business has a 50 day simple moving average of $16.33 and a 200 day simple moving average of $14.58.

Macerich (NYSE:MAC) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.26). The firm had revenue of $238.70 million during the quarter, compared to analyst estimates of $224.49 million. Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. Research analysts anticipate that The Macerich Company will post 1.8 EPS for the current fiscal year.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, May 17th. Macerich’s payout ratio is currently -53.54%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MAC shares. StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a report on Tuesday. The Goldman Sachs Group upped their price target on Macerich from $9.00 to $13.00 and gave the company a “sell” rating in a report on Thursday, January 11th. Truist Financial reissued a “hold” rating and set a $16.00 price objective on shares of Macerich in a report on Monday, March 25th. Finally, Citigroup raised Macerich from a “sell” rating to a “neutral” rating and raised their target price for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.40.

Macerich 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.