Financial Management Network Inc. Acquires 1,339 Shares of The Macerich Company (NYSE:MAC)

Financial Management Network Inc. raised its holdings in shares of The Macerich Company (NYSE:MAC) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,854 shares of the real estate investment trust’s stock after purchasing an additional 1,339 shares during the period. Financial Management Network Inc.’s holdings in Macerich were worth $634,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Smead Capital Management Inc. increased its stake in shares of Macerich by 3.5% during the third quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock valued at $372,706,000 after purchasing an additional 688,790 shares in the last quarter. FMR LLC increased its position in shares of Macerich by 12,475.9% during the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock valued at $214,738,000 after acquiring an additional 11,679,276 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Macerich by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust’s stock valued at $99,004,000 after acquiring an additional 34,982 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Macerich by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,801,369 shares of the real estate investment trust’s stock valued at $87,577,000 after acquiring an additional 113,128 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Macerich by 1.1% during the third quarter. Fisher Asset Management LLC now owns 2,995,741 shares of the real estate investment trust’s stock valued at $54,642,000 after acquiring an additional 31,586 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MAC. Deutsche Bank Aktiengesellschaft began 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. Piper Sandler raised their target price on shares of Macerich from $14.00 to $17.00 and gave the stock an “underweight” rating in a report on Wednesday, December 11th. Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. Compass Point raised their target price on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group upgraded shares of Macerich from a “hold” rating to a “buy” rating and raised their target price for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.30.

Insider Activity

In other news, Director Andrea M. Stephen sold 63,289 shares of the firm’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 in the company, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

Macerich Trading Up 1.5 %

Shares of Macerich stock opened at $20.82 on Wednesday. The stock has a market capitalization of $5.17 billion, a PE ratio of 53.37, a P/E/G ratio of 0.71 and a beta of 2.50. The Macerich Company has a 1-year low of $12.99 and a 1-year high of $22.27. The company’s fifty day simple moving average is $20.37 and its 200-day simple moving average is $18.67. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 3.27%. Macerich’s payout ratio is 174.36%.

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.