International Assets Investment Management LLC Lowers Holdings in The Macerich Company (NYSE:MAC)

International Assets Investment Management LLC reduced its position in shares of The Macerich Company (NYSE:MAC) by 94.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,957 shares of the real estate investment trust’s stock after selling 246,641 shares during the quarter. International Assets Investment Management LLC’s holdings in Macerich were worth $282,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. boosted its stake in shares of Macerich by 152.2% during 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. Quest Partners LLC purchased a new stake in shares of Macerich during the 2nd quarter worth about $50,000. GAMMA Investing LLC boosted its stake in shares of Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 933 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Macerich during the 2nd quarter worth about $129,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 acquiring an additional 2,161 shares in the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Stock Down 5.6 %

MAC stock opened at $19.22 on Monday. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 49.28, a PEG ratio of 0.75 and a beta of 2.51. 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 50-day moving average of $20.30 and a two-hundred day moving average of $17.77.

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

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued 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 3.54%. Macerich’s dividend payout ratio is currently 174.36%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and increased their target price for the stock from $19.00 to $23.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a research note on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price target on the stock. The Goldman Sachs Group raised their price target on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research note on Thursday, September 19th. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and raised their price target for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. Finally, Piper Sandler raised their price target on shares of Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Macerich currently has a consensus rating of “Hold” and a consensus target price of $19.24.

Insider Transactions at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the completion of the sale, the director now owns 83,479 shares in the company, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

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.