Sterling Capital Management LLC Acquires 6,855 Shares of The Macerich Company (NYSE:MAC)

Sterling Capital Management LLC boosted its stake in shares of The Macerich Company (NYSE:MAC) by 927.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,594 shares of the real estate investment trust’s stock after acquiring an additional 6,855 shares during the period. Sterling Capital Management LLC’s holdings in Macerich were worth $151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP purchased a new position in Macerich during the 4th quarter valued at approximately $30,000. Blue Trust Inc. raised its stake in 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 purchasing an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Macerich by 314.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 2,630 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Macerich by 36.5% in the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock worth $87,000 after buying an additional 1,174 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Macerich in the 4th quarter valued at about $99,000. Institutional investors own 87.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MAC shares. Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and raised their price objective for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. dropped their price target on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a research note on Monday, March 10th. Piper Sandler decreased their price objective 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. 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. Finally, The Goldman Sachs Group decreased their target price on Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a research report on Monday, March 10th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.37.

Macerich Trading Down 3.9 %

NYSE MAC opened at $14.11 on Tuesday. The company has a 50 day moving average price of $17.00 and a 200 day moving average price of $18.87. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27. The firm has a market cap of $3.56 billion, a PE ratio of 36.18, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.82%. The ex-dividend date was Tuesday, March 4th. Macerich’s dividend payout ratio is currently -86.08%.

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.