Alhambra Investment Management LLC Has $206,000 Holdings in The Macerich Company (NYSE:MAC)

Alhambra Investment Management LLC lessened its position in shares of The Macerich Company (NYSE:MAC) by 5.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,328 shares of the real estate investment trust’s stock after selling 648 shares during the period. Alhambra Investment Management LLC’s holdings in Macerich were worth $206,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Macerich by 152.2% in the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 933 shares in the last quarter. GAMMA Investing LLC grew its holdings in Macerich by 40.9% in the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 933 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Macerich in the 2nd quarter valued at about $129,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Macerich by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 2,161 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Macerich by 10.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 11,500 shares of the real estate investment trust’s stock worth $178,000 after acquiring an additional 1,132 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Performance

Shares of Macerich stock opened at $19.80 on Friday. The business’s fifty day simple moving average is $20.35 and its 200 day simple moving average is $17.89. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 12 month low of $12.99 and a 12 month high of $22.27. The firm has a market capitalization of $4.92 billion, a P/E ratio of 50.76, a price-to-earnings-growth ratio of 0.67 and a beta of 2.51.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The company had revenue of $220.20 million during the quarter, compared to analysts’ expectations of $208.54 million. During the same period last year, the firm posted $0.44 earnings per share. Macerich’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts anticipate that The Macerich Company will post 1.56 EPS for the current year.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.44%. Macerich’s dividend payout ratio is presently 174.36%.

Insider Buying and Selling at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the 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 sale, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. This represents a 43.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MAC shares. Morgan Stanley upgraded Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective for the company in a report on Wednesday. Compass Point upped their price objective on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com cut shares of Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Piper Sandler upped 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. Finally, Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and lifted their price target for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.30.

Macerich 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.