Daiwa Securities Group Inc. Purchases 4,691 Shares of The Macerich Company (NYSE:MAC)

Daiwa Securities Group Inc. lifted its position in shares of The Macerich Company (NYSE:MAC) by 7.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,098 shares of the real estate investment trust’s stock after purchasing an additional 4,691 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Macerich were worth $1,208,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Y.D. More Investments Ltd raised its position in Macerich by 0.9% in the fourth quarter. Y.D. More Investments Ltd now owns 81,330 shares of the real estate investment trust’s stock worth $1,255,000 after purchasing an additional 745 shares in the last quarter. SeaCrest Wealth Management LLC boosted its stake in Macerich by 1.6% in the 1st quarter. SeaCrest Wealth Management LLC now owns 60,937 shares of the real estate investment trust’s stock valued at $1,050,000 after buying an additional 978 shares in the last quarter. Metis Global Partners LLC raised its stake in Macerich by 8.2% during the fourth quarter. Metis Global Partners LLC now owns 13,666 shares of the real estate investment trust’s stock worth $211,000 after acquiring an additional 1,040 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Macerich by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 23,313 shares of the real estate investment trust’s stock valued at $360,000 after purchasing an additional 1,275 shares during the last quarter. Finally, Signaturefd LLC grew its position in Macerich by 152.4% during the 4th quarter. Signaturefd LLC now owns 2,166 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,308 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors.

Macerich Stock Performance

Shares of NYSE MAC opened at $15.22 on Thursday. The Macerich Company has a 12 month low of $9.21 and a 12 month high of $17.69. The stock has a 50 day moving average of $15.02 and a 200-day moving average of $15.74. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $3.28 billion, a P/E ratio of -9.76, a P/E/G ratio of 0.48 and a beta of 2.51.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $0.68 annualized dividend and a yield of 4.47%. Macerich’s payout ratio is currently -43.59%.

Insider Activity

In other news, CEO Jackson Hsieh bought 140,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were purchased at an average cost of $14.26 per share, with a total value of $1,996,400.00. Following the acquisition, the chief executive officer now directly owns 170,500 shares in the company, valued at $2,431,330. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Jackson Hsieh purchased 140,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average cost of $14.26 per share, with a total value of $1,996,400.00. Following the acquisition, the chief executive officer now owns 170,500 shares of the company’s stock, valued at approximately $2,431,330. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott W. Kingsmore bought 6,000 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was bought at an average price of $16.06 per share, for a total transaction of $96,360.00. Following the transaction, the chief financial officer now directly owns 42,310 shares of the company’s stock, valued at $679,498.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 163,365 shares of company stock valued at $2,358,681. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MAC shares. Scotiabank cut Macerich from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the company from $16.00 to $14.00 in a research note on Friday, May 17th. Truist Financial reiterated a “hold” rating and issued a $16.00 price target on shares of Macerich in a report on Monday, March 25th. Citigroup upgraded Macerich from a “sell” rating to a “neutral” rating and boosted their target price for the company from $8.00 to $17.00 in a research note on Friday, March 22nd. Mizuho lowered their price objective on shares of Macerich from $17.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, May 1st. Finally, StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Five research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Macerich currently has an average rating of “Hold” and an average target price of $14.64.

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.