American Assets Capital Advisers LLC Reduces Stock Holdings in The Macerich Company (NYSE:MAC)

American Assets Capital Advisers LLC reduced its position in The Macerich Company (NYSE:MAC) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 295,202 shares of the real estate investment trust’s stock after selling 31,552 shares during the quarter. Macerich makes up about 2.0% of American Assets Capital Advisers LLC’s holdings, making the stock its 17th largest position. American Assets Capital Advisers LLC owned about 0.12% of Macerich worth $5,880,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in Macerich by 68.8% in the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 1,064 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Macerich by 314.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 2,630 shares during the period. GAMMA Investing LLC increased its stake in shares of Macerich by 36.5% in the fourth 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 in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Macerich in the fourth quarter valued at approximately $99,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Macerich during the 4th quarter valued at approximately $212,000. 87.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MAC shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Macerich in a research note on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price objective for the company. Scotiabank decreased their price objective on Macerich from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 6th. The Goldman Sachs Group dropped their price objective on Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a report on Monday, March 10th. JPMorgan Chase & Co. decreased their price target on Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a research report on Monday, March 10th. Finally, Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and increased their price target for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.03.

Macerich Stock Performance

NYSE MAC opened at $16.47 on Friday. The Macerich Company has a 52-week low of $12.99 and a 52-week high of $22.27. The company has a fifty day moving average of $19.54 and a 200-day moving average of $19.05. The company has a market capitalization of $4.16 billion, a P/E ratio of 42.22, a P/E/G ratio of 0.71 and a beta of 2.62. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.13%. The ex-dividend date is Tuesday, March 4th. Macerich’s dividend payout ratio (DPR) is currently -86.08%.

Insider Transactions at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the company’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 completion of the sale, the director now owns 83,479 shares of the company’s stock, valued at $1,718,832.61. This represents a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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.