CIBC Asset Management Inc Has $244,000 Holdings in The Macerich Company (NYSE:MAC)

CIBC Asset Management Inc decreased its holdings in The Macerich Company (NYSE:MAC) by 39.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,227 shares of the real estate investment trust’s stock after selling 7,915 shares during the quarter. CIBC Asset Management Inc’s holdings in Macerich were worth $244,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MAC. FMR LLC grew its stake in shares of Macerich by 12,475.9% in the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock worth $214,738,000 after purchasing an additional 11,679,276 shares during the last quarter. Bamco Inc. NY grew its stake in shares of Macerich by 742.3% in the third quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock worth $30,924,000 after purchasing an additional 1,494,145 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Macerich by 399.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust’s stock worth $28,206,000 after purchasing an additional 1,236,983 shares during the last quarter. Smead Capital Management Inc. boosted its position in Macerich by 3.5% during the third quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock valued at $372,706,000 after acquiring an additional 688,790 shares during the last quarter. Finally, Brookfield Corp ON bought a new stake in Macerich during the third quarter valued at $9,217,000. Institutional investors own 87.38% of the company’s stock.

Macerich Stock Down 0.3 %

MAC opened at $19.76 on Wednesday. The company has a 50 day moving average of $20.24 and a 200 day moving average of $18.86. The company has a market cap of $4.91 billion, a PE ratio of 50.66, a price-to-earnings-growth ratio of 0.71 and a beta of 2.50. The Macerich Company has a 12 month low of $12.99 and a 12 month high of $22.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Tuesday, March 4th. Macerich’s dividend payout ratio (DPR) is presently 174.36%.

Insider Buying and Selling at Macerich

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com cut shares of Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Piper Sandler upped their price target on shares of Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a research report on Wednesday, December 11th. Compass Point upped their price target on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Scotiabank raised shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price target on the stock in a research report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Macerich in a report on Tuesday, December 17th. They set a “hold” rating and a $22.00 price objective on the stock. Three investment 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.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.30.

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.