The Macerich Company (NYSE:MAC) Shares Sold by Koss Olinger Consulting LLC

Koss Olinger Consulting LLC cut its stake in shares of The Macerich Company (NYSE:MAC) by 22.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,134 shares of the real estate investment trust’s stock after selling 16,709 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Macerich were worth $1,158,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,064 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Macerich by 314.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 2,630 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Macerich by 36.5% during the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock valued at $87,000 after buying an additional 1,174 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Macerich during the fourth quarter valued at $99,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Macerich during the fourth quarter valued at $212,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Andrea M. Stephen sold 63,289 shares of the company’s stock in a transaction dated 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 transaction, the director now 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Macerich Trading Up 0.4 %

Shares of Macerich stock opened at $17.18 on Wednesday. The firm has a 50-day simple moving average of $19.41 and a two-hundred day simple moving average of $19.10. The company has a market cap of $4.34 billion, a P/E ratio of 44.04, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. The Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a $0.17 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.96%. Macerich’s dividend payout ratio (DPR) is currently -86.08%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MAC. Piper Sandler dropped their price objective on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, February 28th. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and upped their price target for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Morgan Stanley raised shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price target on the stock in a report on Wednesday, January 15th. The Goldman Sachs Group lowered their price target on shares of Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a report on Monday, March 10th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.03.

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.