SeaCrest Wealth Management LLC Sells 22,753 Shares of The Macerich Company (NYSE:MAC)

SeaCrest Wealth Management LLC decreased its position in shares of The Macerich Company (NYSE:MAC) by 37.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,184 shares of the real estate investment trust’s stock after selling 22,753 shares during the period. SeaCrest Wealth Management LLC’s holdings in Macerich were worth $590,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of MAC. Y.D. More Investments Ltd boosted its stake in Macerich by 0.9% in the 4th 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. Metis Global Partners LLC lifted its position in Macerich by 8.2% during the 4th 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 during the period. Swiss National Bank grew its stake in Macerich by 0.3% during the 1st quarter. Swiss National Bank now owns 425,415 shares of the real estate investment trust’s stock valued at $7,330,000 after purchasing an additional 1,200 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Macerich by 5.8% in the fourth 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 period. Finally, Signaturefd LLC raised its stake in shares of Macerich by 152.4% in the fourth quarter. Signaturefd LLC now owns 2,166 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,308 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Trading Down 0.4 %

NYSE MAC traded down $0.06 during trading hours on Wednesday, reaching $14.80. The company had a trading volume of 68,011 shares, compared to its average volume of 1,847,445. The company has a current ratio of 0.86, a quick ratio of 1.03 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $3.19 billion, a P/E ratio of -9.54, a price-to-earnings-growth ratio of 0.51 and a beta of 2.51. The stock has a 50-day moving average of $15.20 and a 200 day moving average of $15.69. The Macerich Company has a 1-year low of $9.21 and a 1-year high of $17.69.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 19th will be issued a $0.17 dividend. The ex-dividend date is Monday, August 19th. This represents a $0.68 annualized dividend and a dividend yield of 4.59%. Macerich’s dividend payout ratio is currently -43.59%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MAC shares. Mizuho decreased their price objective on Macerich from $17.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, May 1st. Compass Point lowered their price objective on Macerich from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. StockNews.com upgraded Macerich from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Scotiabank lowered Macerich from a “sector perform” rating to a “sector underperform” rating and lowered their price target for the stock from $16.00 to $14.00 in a research note on Friday, May 17th. Finally, The Goldman Sachs Group reduced their price objective on Macerich from $14.00 to $12.50 and set a “sell” rating for the company in a research note on Monday, June 17th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, 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.