SeaCrest Wealth Management LLC Reduces Stock Position in The Macerich Company (NYSE:MAC)

SeaCrest Wealth Management LLC cut its holdings in shares of The Macerich Company (NYSE:MAC) by 19.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,959 shares of the real estate investment trust’s stock after selling 14,329 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Macerich were worth $896,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new stake in Macerich during the 2nd quarter worth approximately $29,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Macerich in the 3rd quarter valued at approximately $36,000. Anchor Investment Management LLC bought a new stake in shares of Macerich in the 4th quarter valued at approximately $40,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Macerich by 42.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,831 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 1,136 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Macerich by 51.0% in the 3rd quarter. CWM LLC now owns 5,409 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 1,826 shares during the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Macerich

In other news, Director Hern Thomas E. O sold 7,964 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $16.39, for a total value of $130,529.96. Following the transaction, the director now directly owns 197,900 shares in the company, valued at approximately $3,243,581. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Edward C. Coppola sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total transaction of $860,000.00. Following the sale, the president now owns 655,667 shares of the company’s stock, valued at approximately $11,277,472.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hern Thomas E. O sold 7,964 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $16.39, for a total value of $130,529.96. Following the sale, the director now directly owns 197,900 shares in the company, valued at approximately $3,243,581. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,964 shares of company stock worth $2,599,830. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

MAC has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their price target on Macerich from $9.00 to $13.00 and gave the company a “sell” rating in a report on Thursday, January 11th. StockNews.com upgraded Macerich from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. Truist Financial restated a “hold” rating and set a $16.00 price objective on shares of Macerich in a research report on Monday. Piper Sandler boosted their price objective on Macerich from $12.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, December 20th. Finally, Citigroup upgraded Macerich from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $8.00 to $17.00 in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, Macerich has a consensus rating of “Hold” and an average price target of $14.40.

Macerich Stock Performance

NYSE MAC traded up $0.14 on Friday, reaching $17.23. The stock had a trading volume of 1,460,428 shares, compared to its average volume of 1,899,378. The business has a 50 day moving average price of $16.55 and a 200 day moving average price of $13.85. The Macerich Company has a 1 year low of $9.05 and a 1 year high of $17.69. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.95 and a current ratio of 0.95.

Macerich (NYSE:MAC) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.26). Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The business had revenue of $238.70 million for the quarter, compared to the consensus estimate of $224.49 million. During the same quarter in the previous year, the company earned $0.53 EPS. Macerich’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities analysts expect that The Macerich Company will post 1.81 EPS for the current year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Friday, February 16th were given a $0.17 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.68 dividend on an annualized basis and a yield of 3.95%. Macerich’s payout ratio is -53.54%.

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.