SeaCrest Wealth Management LLC Acquires 978 Shares of The Macerich Company (NYSE:MAC)

SeaCrest Wealth Management LLC boosted its holdings in shares of The Macerich Company (NYSE:MAC) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,937 shares of the real estate investment trust’s stock after purchasing an additional 978 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Macerich were worth $1,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Macerich by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 34,478,278 shares of the real estate investment trust’s stock valued at $532,000,000 after purchasing an additional 336,251 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Macerich by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,654,465 shares of the real estate investment trust’s stock worth $71,818,000 after acquiring an additional 165,649 shares during the last quarter. Kennedy Capital Management LLC increased its stake in Macerich by 0.9% in the 3rd quarter. Kennedy Capital Management LLC now owns 1,540,033 shares of the real estate investment trust’s stock worth $16,802,000 after acquiring an additional 14,131 shares during the last quarter. Norges Bank bought a new stake in Macerich in the 4th quarter worth approximately $22,210,000. Finally, Wellington Management Group LLP bought a new stake in Macerich in the 4th quarter worth approximately $18,938,000. Institutional investors own 87.38% of the company’s stock.

Insider Activity at Macerich

In other Macerich news, insider Ann C. Menard acquired 4,865 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was bought 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 in the company, valued at $317,748.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Kenneth Volk bought 5,000 shares of the stock in a transaction on Friday, May 10th. The stock was acquired at an average cost of $15.40 per share, for a total transaction of $77,000.00. Following 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 document filed with the SEC, which can be accessed through the SEC website. Also, insider Ann C. Menard bought 4,865 shares of the stock in a transaction on Wednesday, May 8th. The stock was purchased at an average price of $15.40 per share, with a total value of $74,921.00. Following the completion of the acquisition, the insider now directly owns 20,633 shares in the company, valued at approximately $317,748.20. The disclosure for this purchase can be found here. Insiders acquired a total of 163,365 shares of company stock worth $2,358,681 in the last quarter. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MAC has been the topic of a number of research reports. Citigroup raised Macerich from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $8.00 to $17.00 in a research note on Friday, March 22nd. Piper Sandler downgraded Macerich from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $17.00 to $11.00 in a research note on Wednesday, May 1st. The Goldman Sachs Group cut their target price on Macerich from $14.00 to $12.50 and set a “sell” rating on the stock in a research report on Monday, June 17th. Truist Financial reissued a “hold” rating and set a $16.00 target price on shares of Macerich in a research report on Monday, March 25th. Finally, Compass Point cut their target price on Macerich from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.64.

Macerich Trading Down 0.4 %

MAC opened at $14.60 on Wednesday. The business has a fifty day moving average of $15.03 and a 200 day moving average of $15.77. The Macerich Company has a 52-week low of $9.21 and a 52-week high of $17.69. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend was Friday, May 17th. Macerich’s payout ratio is currently -43.59%.

Macerich Company 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.