abrdn plc Buys 22,020 Shares of The Macerich Company (NYSE:MAC)

abrdn plc lifted its holdings in The Macerich Company (NYSE:MAC) by 51.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,991 shares of the real estate investment trust’s stock after acquiring an additional 22,020 shares during the period. abrdn plc’s holdings in Macerich were worth $1,297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Custom Index Systems LLC grew its stake in Macerich by 8.7% in 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 acquiring an additional 928 shares during the period. Sonora Investment Management Group LLC raised its position in Macerich by 1.4% in the fourth quarter. Sonora Investment Management Group LLC now owns 222,843 shares of the real estate investment trust’s stock worth $4,439,000 after acquiring an additional 3,059 shares during the period. Murphy Pohlad Asset Management LLC lifted its position in shares of Macerich by 1.7% during the 4th quarter. Murphy Pohlad Asset Management LLC now owns 117,460 shares of the real estate investment trust’s stock valued at $2,340,000 after buying an additional 2,000 shares during the last quarter. Vert Asset Management LLC increased its stake in shares of Macerich by 16.3% in the fourth quarter. Vert Asset Management LLC now owns 101,486 shares of the real estate investment trust’s stock worth $2,022,000 after purchasing an additional 14,228 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Macerich by 92.1% during the 4th quarter. KBC Group NV now owns 11,814 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 5,664 shares during the period. 87.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total value of $1,303,120.51. Following the completion of the transaction, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. This represents a 43.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

Macerich Stock Performance

MAC opened at $20.44 on Tuesday. The firm has a market cap of $5.08 billion, a P/E ratio of 52.40, a PEG ratio of 0.72 and a beta of 2.50. The Macerich Company has a 1-year low of $12.99 and a 1-year high of $22.27. The company has a 50 day simple moving average of $20.49 and a two-hundred day simple moving average of $18.47. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

Analysts Set New Price Targets

Several research firms have weighed in on MAC. Scotiabank raised Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price target on the stock in a report on Tuesday, December 17th. Compass Point increased their price objective on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com downgraded Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and boosted their target price for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Finally, Mizuho raised 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 report on Wednesday, December 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Macerich currently has a consensus rating of “Hold” and an average price target of $19.30.

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.