Daiwa Securities Group Inc. Sells 3,293 Shares of The Macerich Company (NYSE:MAC)

Daiwa Securities Group Inc. lessened its stake in shares of The Macerich Company (NYSE:MAC) by 4.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 65,407 shares of the real estate investment trust’s stock after selling 3,293 shares during the period. Daiwa Securities Group Inc.’s holdings in Macerich were worth $1,009,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC boosted its stake in shares of Macerich by 1,460.3% in the fourth quarter. International Assets Investment Management LLC now owns 324,502 shares of the real estate investment trust’s stock worth $5,007,000 after acquiring an additional 303,704 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Macerich by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,488,816 shares of the real estate investment trust’s stock worth $48,973,000 after acquiring an additional 31,445 shares during the period. Barclays PLC boosted its stake in shares of Macerich by 91.0% in the third quarter. Barclays PLC now owns 221,834 shares of the real estate investment trust’s stock worth $2,421,000 after acquiring an additional 105,663 shares during the period. SG Americas Securities LLC boosted its stake in shares of Macerich by 642.9% in the third quarter. SG Americas Securities LLC now owns 115,705 shares of the real estate investment trust’s stock worth $1,262,000 after acquiring an additional 100,131 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Macerich by 15.3% in the third quarter. Invesco Ltd. now owns 579,573 shares of the real estate investment trust’s stock worth $6,323,000 after acquiring an additional 76,888 shares during the period. Institutional investors own 87.38% of the company’s stock.

Macerich Price Performance

NYSE:MAC opened at $15.65 on Thursday. The Macerich Company has a 12 month low of $9.05 and a 12 month high of $17.69. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.67. The business’s 50-day moving average is $16.43 and its 200 day moving average is $14.48. The company has a market capitalization of $3.37 billion, a P/E ratio of -12.31, a P/E/G ratio of 1.76 and a beta of 2.33.

Macerich (NYSE:MAC) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.26). Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The company had revenue of $238.70 million for the quarter, compared to analysts’ expectations of $224.49 million. During the same quarter last year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that The Macerich Company will post 1.8 earnings per share for the current fiscal year.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Friday, February 16th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.68 dividend on an annualized basis and a yield of 4.35%. Macerich’s dividend payout ratio (DPR) is presently -53.54%.

Insider Buying and Selling at Macerich

In other Macerich news, Director Hern Thomas E. O sold 7,964 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $16.39, for a total transaction of $130,529.96. Following the sale, the director now directly owns 197,900 shares in the company, valued at $3,243,581. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Hern Thomas E. O sold 7,964 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $16.39, for a total value of $130,529.96. Following the sale, the director now directly owns 197,900 shares in the company, valued at $3,243,581. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Edward C. Coppola sold 20,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.01, for a total value of $340,200.00. Following the completion of the sale, the director now owns 635,667 shares in the company, valued at $10,812,695.67. The disclosure for this sale can be found here. Insiders have sold a total of 172,964 shares of company stock worth $2,940,030 over the last ninety days. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

MAC has been the subject of a number of recent analyst reports. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Citigroup raised Macerich from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $8.00 to $17.00 in a research note on Friday, March 22nd. Truist Financial reiterated a “hold” rating and issued a $16.00 target price on shares of Macerich in a research report on Monday, March 25th. Finally, The Goldman Sachs Group boosted their target price on Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, Macerich presently has a consensus rating of “Hold” and an average target price of $14.40.

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.