The Macerich Company (NYSE:MAC) Shares Acquired by Xponance Inc.

Xponance Inc. increased its holdings in shares of The Macerich Company (NYSE:MAC) by 23.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,660 shares of the real estate investment trust’s stock after purchasing an additional 3,356 shares during the period. Xponance Inc.’s holdings in Macerich were worth $352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings 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 buying an additional 1,064 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings 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 in the last quarter. GAMMA Investing LLC lifted its position in Macerich by 36.5% in the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 1,174 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Macerich in the 4th quarter valued at approximately $99,000. Finally, Sanctuary Advisors LLC acquired a new position in Macerich during the 4th quarter worth approximately $212,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. 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 note on Monday, March 10th. Scotiabank decreased their price objective on shares of Macerich from $22.00 to $21.00 and set a “sector perform” rating on the stock in a report on Thursday, March 6th. 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 report on Wednesday, January 15th. The Goldman Sachs Group lowered their price target on shares of Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a research report on Monday, March 10th. Finally, Mizuho raised Macerich from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.49.

Macerich Price Performance

MAC stock opened at $17.32 on Friday. The stock has a 50-day moving average price of $19.09 and a two-hundred day moving average price of $19.14. The company has a market cap of $4.37 billion, a PE ratio of 44.40, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. The company has a current ratio of 0.92, a quick 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.

Macerich Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Tuesday, March 4th. Macerich’s dividend payout ratio is presently -86.08%.

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.