Corient Private Wealth LLC Invests $273,000 in The Macerich Company (NYSE:MAC)

Corient Private Wealth LLC acquired a new stake in shares of The Macerich Company (NYSE:MAC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 13,702 shares of the real estate investment trust’s stock, valued at approximately $273,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. M&T Bank Corp lifted its stake in shares of Macerich by 2.8% in 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 raised its holdings in Macerich by 5.7% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 12,234 shares of the real estate investment trust’s stock worth $244,000 after acquiring an additional 665 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Macerich by 0.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust’s stock valued at $5,029,000 after acquiring an additional 700 shares in the last quarter. Townsquare Capital LLC boosted its stake in Macerich by 7.2% during the 3rd quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock valued at $245,000 after purchasing an additional 902 shares during the last quarter. Finally, Custom Index Systems LLC increased its holdings in shares of Macerich by 8.7% in the 4th quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust’s stock worth $232,000 after purchasing an additional 928 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.

Macerich Trading Up 0.8 %

Shares of Macerich stock opened at $17.22 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $4.35 billion, a PE ratio of 44.15, a P/E/G ratio of 0.71 and a beta of 2.62. The Macerich Company has a 1-year low of $12.99 and a 1-year high of $22.27. The company’s fifty day simple moving average is $18.98 and its 200-day simple moving average is $19.21.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.95%. The ex-dividend date was Tuesday, March 4th. Macerich’s dividend payout ratio is presently -86.08%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MAC shares. Morgan Stanley raised 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. Scotiabank lowered their target price on shares of Macerich from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 6th. Piper Sandler reduced their price target on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, February 28th. Jefferies Financial Group upgraded shares of Macerich from a “hold” rating to a “buy” rating and increased their price objective for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Finally, Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Macerich presently has a consensus rating of “Hold” and a consensus price target of $19.49.

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.