Burkehill Global Management LP Makes New $19.92 Million Investment in The Macerich Company (NYSE:MAC)

Burkehill Global Management LP bought a new stake in The Macerich Company (NYSE:MAC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,000,000 shares of the real estate investment trust’s stock, valued at approximately $19,920,000. Macerich makes up approximately 1.9% of Burkehill Global Management LP’s holdings, making the stock its 16th biggest holding. Burkehill Global Management LP owned approximately 0.40% of Macerich at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Blue Trust Inc. grew its holdings in Macerich by 68.8% during 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 lifted its position in shares of 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 grew its stake in shares of Macerich by 36.5% during 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 last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Macerich in the fourth quarter valued at approximately $99,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Macerich in the fourth quarter valued at approximately $212,000. 87.38% of the stock is owned by institutional investors.

Macerich Trading Up 3.1 %

MAC opened at $16.83 on Thursday. The firm’s fifty day moving average is $19.76 and its two-hundred day moving average is $19.06. The firm has a market cap of $4.25 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. The Macerich Company has a twelve month low of $12.99 and a twelve month high of $22.27. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 annualized dividend and a yield of 4.04%. Macerich’s dividend payout ratio is presently -86.08%.

Insider Buying and Selling at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction that occurred 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 transaction, the director now owns 83,479 shares of the company’s stock, valued at approximately $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on MAC shares. Piper Sandler reduced their price objective on Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, February 28th. Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and upped their price target for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. Scotiabank lowered their price objective on Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a research report on Thursday, March 6th. Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and upped their target price for the company from $14.00 to $22.00 in a research report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft started 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. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.03.

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.