Candriam S.C.A. Decreases Stake in The Macerich Company (NYSE:MAC)

Candriam S.C.A. reduced its stake in The Macerich Company (NYSE:MAC) by 33.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 480,957 shares of the real estate investment trust’s stock after selling 237,385 shares during the quarter. Candriam S.C.A. owned about 0.19% of Macerich worth $9,581,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. M&T Bank Corp raised its position in shares of Macerich by 2.8% in the 4th quarter. M&T Bank Corp now owns 20,228 shares of the real estate investment trust’s stock valued at $403,000 after purchasing an additional 543 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Macerich by 0.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust’s stock valued at $5,029,000 after purchasing an additional 700 shares during the last quarter. Townsquare Capital LLC raised its position in shares of Macerich by 7.2% in the 3rd quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock valued at $245,000 after purchasing an additional 902 shares during the last quarter. Custom Index Systems LLC raised its position in shares of Macerich by 8.7% in the 4th quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust’s stock valued at $232,000 after purchasing an additional 928 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Macerich by 5.6% in the 3rd quarter. Assetmark Inc. now owns 18,404 shares of the real estate investment trust’s stock valued at $336,000 after purchasing an additional 971 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Price Performance

Shares of NYSE MAC opened at $16.87 on Friday. The firm’s 50 day simple moving average is $19.98 and its 200-day simple moving average is $18.98. The Macerich Company has a 12 month low of $12.99 and a 12 month high of $22.27. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 43.24, a PEG ratio of 0.71 and a beta of 2.62. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a yield of 4.03%. Macerich’s dividend payout ratio is currently -86.08%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Piper Sandler reduced their price target on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, February 28th. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and raised their price target for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Macerich in a research report on Tuesday, December 17th. They set a “hold” rating and a $22.00 price target for the company. Morgan Stanley raised shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price target for the company in a research report on Wednesday, January 15th. Finally, Scotiabank reduced their price target on shares of Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.13.

Insider Activity at Macerich

In related news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total value of $1,303,120.51. Following the sale, the director now owns 83,479 shares of the company’s stock, valued at approximately $1,718,832.61. This trade represents a 43.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by corporate insiders.

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.