Plancorp LLC Sells 16,300 Shares of The Macerich Company (NYSE:MAC)

Plancorp LLC reduced its holdings in The Macerich Company (NYSE:MAC) by 33.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,549 shares of the real estate investment trust’s stock after selling 16,300 shares during the quarter. Plancorp LLC’s holdings in Macerich were worth $648,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MAC. M&T Bank Corp grew its holdings in shares of Macerich by 2.8% during the fourth quarter. M&T Bank Corp now owns 20,228 shares of the real estate investment trust’s stock worth $403,000 after buying an additional 543 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Macerich by 5.7% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 12,234 shares of the real estate investment trust’s stock worth $244,000 after buying an additional 665 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Macerich by 0.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust’s stock worth $5,029,000 after buying an additional 700 shares in the last quarter. Townsquare Capital LLC grew its holdings in shares of Macerich by 7.2% during the third quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock worth $245,000 after buying an additional 902 shares in the last quarter. Finally, Custom Index Systems LLC grew its stake in Macerich by 8.7% in the fourth quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust’s stock valued at $232,000 after purchasing an additional 928 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on MAC shares. Scotiabank decreased their price target on Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a research note on Thursday, March 6th. Piper Sandler decreased their price target on Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. decreased their price target on Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a research note on Monday, March 10th. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and raised their price target for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. Finally, Mizuho upgraded 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. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Macerich presently has a consensus rating of “Hold” and an average price target of $19.20.

Macerich Stock Performance

MAC opened at $17.27 on Friday. The Macerich Company has a 12-month low of $12.99 and a 12-month high of $22.27. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 44.27, a PEG ratio of 0.71 and a beta of 2.62. The business has a 50 day moving average of $19.25 and a 200-day moving average of $19.11. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.68 annualized dividend and a yield of 3.94%. Macerich’s payout ratio is currently -86.08%.

Insider Buying and Selling

In related news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction that occurred on Thursday, December 26th. The stock was 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 directly owns 83,479 shares of the company’s stock, valued at approximately $1,718,832.61. This trade represents a 43.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by insiders.

Macerich 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.