The Macerich Company (NYSE:MAC) Shares Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. increased its stake in shares of The Macerich Company (NYSE:MAC) by 0.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,244,970 shares of the real estate investment trust’s stock after purchasing an additional 1,254 shares during the period. Goldman Sachs Group Inc. owned approximately 0.58% of Macerich worth $19,210,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in shares of Macerich by 1,460.3% in the fourth quarter. International Assets Investment Management LLC now owns 324,502 shares of the real estate investment trust’s stock valued at $5,007,000 after purchasing an additional 303,704 shares during the period. Hsbc Holdings PLC grew its stake in shares of Macerich by 12.1% in the fourth quarter. Hsbc Holdings PLC now owns 126,062 shares of the real estate investment trust’s stock worth $1,945,000 after acquiring an additional 13,576 shares in the last quarter. Invesco Ltd. increased its position in shares of Macerich by 15.3% during the third quarter. Invesco Ltd. now owns 579,573 shares of the real estate investment trust’s stock worth $6,323,000 after acquiring an additional 76,888 shares during the period. Van ECK Associates Corp raised its stake in shares of Macerich by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 30,293 shares of the real estate investment trust’s stock valued at $467,000 after acquiring an additional 4,981 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Macerich by 5.8% in the fourth quarter. CIBC Asset Management Inc now owns 23,313 shares of the real estate investment trust’s stock valued at $360,000 after purchasing an additional 1,275 shares during the period. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Performance

NYSE MAC opened at $14.81 on Thursday. The company has a fifty day moving average of $15.08 and a two-hundred day moving average of $15.76. The company has a market capitalization of $3.19 billion, a PE ratio of -9.49, a P/E/G ratio of 3.01 and a beta of 2.43. The Macerich Company has a 1 year low of $9.21 and a 1 year high of $17.69. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.03 and a quick ratio of 1.03.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid 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 yield of 4.59%. Macerich’s dividend payout ratio is presently -43.59%.

Insiders Place Their Bets

In other news, EVP Kenneth Volk acquired 5,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was acquired at an average cost of $15.40 per share, with a total value of $77,000.00. Following the completion of the acquisition, the executive vice president now owns 51,924 shares of the company’s stock, valued at $799,629.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Jackson Hsieh acquired 140,000 shares of Macerich stock in a transaction on Monday, May 6th. The stock was purchased at an average cost of $14.26 per share, with a total value of $1,996,400.00. Following the purchase, the chief executive officer now directly owns 170,500 shares in the company, valued at $2,431,330. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kenneth Volk acquired 5,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were bought at an average cost of $15.40 per share, with a total value of $77,000.00. Following the completion of the transaction, the executive vice president now directly owns 51,924 shares in the company, valued at approximately $799,629.60. The disclosure for this purchase can be found here. Insiders have bought a total of 163,365 shares of company stock valued at $2,358,681 over the last quarter. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

MAC has been the topic of a number of analyst reports. Mizuho reduced their price target on Macerich from $17.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 1st. StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Truist Financial restated a “hold” rating and issued a $16.00 price objective on shares of Macerich in a report on Monday, March 25th. Compass Point lowered their target price on shares of Macerich from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Piper Sandler lowered Macerich from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $17.00 to $11.00 in a report on Wednesday, May 1st. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.