Sumitomo Mitsui Trust Holdings Inc. Acquires 13,420 Shares of The Macerich Company (NYSE:MAC)

Sumitomo Mitsui Trust Holdings Inc. increased its holdings in The Macerich Company (NYSE:MAC) by 5.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 254,100 shares of the real estate investment trust’s stock after buying an additional 13,420 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.12% of Macerich worth $3,921,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Anchor Investment Management LLC bought a new position in Macerich in the fourth quarter worth approximately $40,000. Harvest Fund Management Co. Ltd bought a new position in Macerich in the third quarter worth approximately $36,000. CWM LLC raised its stake in Macerich by 51.0% in the third quarter. CWM LLC now owns 5,409 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 1,826 shares in the last quarter. Independent Wealth Network Inc. bought a new position in Macerich in the fourth quarter worth approximately $171,000. Finally, Cerity Partners LLC bought a new position in Macerich in the fourth quarter worth approximately $207,000. Institutional investors own 87.38% of the company’s stock.

Macerich Price Performance

Shares of MAC opened at $16.15 on Wednesday. The firm has a market capitalization of $3.48 billion, a PE ratio of -12.72, a price-to-earnings-growth ratio of 1.72 and a beta of 2.33. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.95 and a quick ratio of 0.95. The Macerich Company has a 1-year low of $9.05 and a 1-year high of $17.69. The company’s fifty day moving average price is $16.44 and its 200-day moving average price is $14.44.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.26). The company had revenue of $238.70 million for the quarter, compared to analysts’ expectations of $224.49 million. Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. Macerich’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. On average, equities research analysts predict that The Macerich Company will post 1.8 EPS for the current year.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Friday, February 16th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend was Thursday, February 15th. Macerich’s payout ratio is -53.54%.

Insider Buying and Selling at Macerich

In other Macerich news, Director Hern Thomas E. O sold 7,964 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total value of $130,529.96. Following the sale, the director now directly owns 197,900 shares of the company’s stock, valued at $3,243,581. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Macerich news, Director Hern Thomas E. O sold 95,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $16.94, for a total value of $1,609,300.00. Following the sale, the director now directly owns 102,900 shares of the company’s stock, valued at $1,743,126. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Hern Thomas E. O sold 7,964 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $16.39, for a total transaction of $130,529.96. Following the sale, the director now directly owns 197,900 shares in the company, valued at $3,243,581. The disclosure for this sale can be found here. Over the last three months, insiders have sold 172,964 shares of company stock valued at $2,940,030. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MAC has been the topic of a number of recent analyst reports. Truist Financial reaffirmed a “hold” rating and set a $16.00 price target on shares of Macerich in a research report on Monday, March 25th. StockNews.com downgraded Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Citigroup raised Macerich from a “sell” rating to a “neutral” rating and upped their price target for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd. Finally, The Goldman Sachs Group upped their price target on Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.40.

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.