Inspire Investing LLC Has $402,000 Position in The Macerich Company (NYSE:MAC)

Inspire Investing LLC cut its position in shares of The Macerich Company (NYSE:MAC) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,176 shares of the real estate investment trust’s stock after selling 2,555 shares during the quarter. Inspire Investing LLC’s holdings in Macerich were worth $402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MAC. Janney Montgomery Scott LLC raised its stake in shares of Macerich by 15.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,118 shares of the real estate investment trust’s stock valued at $1,098,000 after buying an additional 7,314 shares in the last quarter. Perpetual Ltd raised its position in Macerich by 24.3% in the fourth quarter. Perpetual Ltd now owns 55,356 shares of the real estate investment trust’s stock worth $1,103,000 after purchasing an additional 10,830 shares in the last quarter. Friedenthal Financial acquired a new stake in Macerich during the fourth quarter valued at approximately $771,000. GAMMA Investing LLC grew its stake 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 valued at $87,000 after purchasing an additional 1,174 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Macerich by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust’s stock worth $99,004,000 after buying an additional 34,982 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.

Macerich Price Performance

Shares of MAC stock opened at $20.53 on Monday. 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 12 month low of $12.99 and a 12 month high of $22.27. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 52.63, a PEG ratio of 0.69 and a beta of 2.51. The stock has a 50-day moving average price of $20.42 and a 200 day moving average price of $18.11.

Macerich (NYSE:MAC) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The business had revenue of $220.20 million for the quarter, compared to the consensus estimate of $208.54 million. During the same period last year, the firm earned $0.44 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Research analysts expect that The Macerich Company will post 1.55 EPS for the current year.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.17 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.68 dividend on an annualized basis and a yield of 3.31%. Macerich’s dividend payout ratio is presently 174.36%.

Analyst Ratings Changes

Several analysts recently commented on MAC shares. 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 on the stock. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Scotiabank raised shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price objective for the company in a report on Tuesday, December 17th. Finally, Bank of America boosted their target price on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.30.

Insider Buying and Selling at Macerich

In related news, Director Andrea M. Stephen sold 63,289 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total value of $1,303,120.51. Following the sale, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.53% of the company’s stock.

About Macerich

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.