The Macerich Company (NYSE:MAC) Shares Sold by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. trimmed its position in The Macerich Company (NYSE:MAC) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,570 shares of the real estate investment trust’s stock after selling 819 shares during the period. Ameritas Investment Partners Inc.’s holdings in Macerich were worth $372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in MAC. Y.D. More Investments Ltd grew its position in Macerich by 0.9% during the 4th quarter. Y.D. More Investments Ltd now owns 81,330 shares of the real estate investment trust’s stock worth $1,255,000 after purchasing an additional 745 shares during the period. SeaCrest Wealth Management LLC grew its position in Macerich by 1.6% during the 1st quarter. SeaCrest Wealth Management LLC now owns 60,937 shares of the real estate investment trust’s stock worth $1,050,000 after purchasing an additional 978 shares during the period. Metis Global Partners LLC grew its position in Macerich by 8.2% during the 4th quarter. Metis Global Partners LLC now owns 13,666 shares of the real estate investment trust’s stock worth $211,000 after purchasing an additional 1,040 shares during the period. Swiss National Bank grew its position in Macerich by 0.3% during the 1st quarter. Swiss National Bank now owns 425,415 shares of the real estate investment trust’s stock worth $7,330,000 after purchasing an additional 1,200 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Macerich by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 23,313 shares of the real estate investment trust’s stock worth $360,000 after acquiring an additional 1,275 shares in the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Macerich

In other news, insider Ann C. Menard purchased 4,865 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average price of $15.40 per share, for a total transaction of $74,921.00. Following the acquisition, the insider now directly owns 20,633 shares of the company’s stock, valued at $317,748.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Ann C. Menard purchased 4,865 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average price of $15.40 per share, for a total transaction of $74,921.00. Following the acquisition, the insider now directly owns 20,633 shares of the company’s stock, valued at $317,748.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Scott W. Kingsmore bought 6,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was bought at an average price of $16.06 per share, with a total value of $96,360.00. Following the acquisition, the chief financial officer now directly owns 42,310 shares in the company, valued at approximately $679,498.60. The disclosure for this purchase can be found here. Insiders bought 163,365 shares of company stock worth $2,358,681 in the last 90 days. Insiders own 0.53% of the company’s stock.

Macerich Stock Down 4.7 %

MAC stock opened at $15.87 on Thursday. The company has a market cap of $3.42 billion, a price-to-earnings ratio of -10.17, a PEG ratio of 0.55 and a beta of 2.51. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. The Macerich Company has a 12 month low of $9.21 and a 12 month high of $17.69. The firm has a 50-day moving average of $15.17 and a two-hundred day moving average of $15.78.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, May 17th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.28%. Macerich’s dividend payout ratio is currently -43.59%.

Analysts Set New Price Targets

MAC has been the topic of several recent analyst reports. Scotiabank lowered shares of Macerich from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the stock from $16.00 to $14.00 in a research note on Friday, May 17th. Piper Sandler lowered shares of Macerich from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $17.00 to $11.00 in a research note on Wednesday, May 1st. The Goldman Sachs Group decreased their price target on shares of Macerich from $14.00 to $12.50 and set a “sell” rating on the stock in a research note on Monday, June 17th. Compass Point decreased their price target on shares of Macerich from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.64.

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.