Entropy Technologies LP Invests $476,000 in The Macerich Company (NYSE:MAC)

Entropy Technologies LP acquired a new position in shares of The Macerich Company (NYSE:MAC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,897 shares of the real estate investment trust’s stock, valued at approximately $476,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in Macerich by 152.2% during the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 933 shares during the last quarter. GAMMA Investing LLC boosted its stake in Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 933 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Macerich by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 2,161 shares during the period. Custom Index Systems LLC raised its holdings in shares of Macerich by 8.7% during 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 buying an additional 928 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Macerich by 92.1% during the fourth quarter. KBC Group NV now owns 11,814 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 5,664 shares during the period. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $1,718,832.61. The trade was a 43.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on MAC. Deutsche Bank Aktiengesellschaft started coverage on Macerich in a research note on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price target for the company. Scotiabank upgraded shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price objective on the stock in a research note on Tuesday, December 17th. Jefferies Financial Group upgraded shares of Macerich from a “hold” rating to a “buy” rating and lifted their price target for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Compass Point upped their target price on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.30.

Macerich Price Performance

NYSE MAC opened at $20.49 on Thursday. The Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. The stock’s 50-day moving average is $20.46 and its two-hundred day moving average is $18.52. The firm has a market cap of $5.09 billion, a P/E ratio of 52.54, a price-to-earnings-growth ratio of 0.72 and a beta of 2.50. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

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.