Y.D. More Investments Ltd Reduces Stake in The Macerich Company (NYSE:MAC)

Y.D. More Investments Ltd lowered its stake in shares of The Macerich Company (NYSE:MAC) by 40.5% in the 4th quarter, HoldingsChannel reports. The firm owned 42,880 shares of the real estate investment trust’s stock after selling 29,200 shares during the quarter. Y.D. More Investments Ltd’s holdings in Macerich were worth $854,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Yousif Capital Management LLC grew its stake in shares of Macerich by 10.8% during the 4th quarter. Yousif Capital Management LLC now owns 93,035 shares of the real estate investment trust’s stock worth $1,853,000 after acquiring an additional 9,077 shares during the period. abrdn plc boosted its position in Macerich by 51.2% during the fourth quarter. abrdn plc now owns 64,991 shares of the real estate investment trust’s stock worth $1,297,000 after purchasing an additional 22,020 shares during the period. Custom Index Systems LLC increased its stake in shares of 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 worth $232,000 after purchasing an additional 928 shares in the last quarter. Sonora Investment Management Group LLC boosted its holdings in Macerich by 1.4% in the 4th quarter. Sonora Investment Management Group LLC now owns 222,843 shares of the real estate investment trust’s stock worth $4,439,000 after buying an additional 3,059 shares during the period. Finally, Murphy Pohlad Asset Management LLC grew its stake in Macerich by 1.7% in 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 in the last quarter. 87.38% of the stock is currently owned by institutional investors.

Macerich Trading Down 0.6 %

NYSE MAC opened at $20.32 on Wednesday. The stock’s 50-day simple moving average is $20.52 and its two-hundred day simple moving average is $18.35. The Macerich Company has a twelve month low of $12.99 and a twelve month high of $22.27. 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 company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 52.11, a PEG ratio of 0.72 and a beta of 2.50.

Macerich (NYSE:MAC) last released its 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 firm had revenue of $220.20 million during the quarter, compared to the consensus estimate of $208.54 million. During the same quarter in the previous year, the firm earned $0.44 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts forecast that The Macerich Company will post 1.55 EPS for the current fiscal year.

Insider Transactions at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of Macerich 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 transaction, the director now directly owns 83,479 shares of the company’s stock, valued at $1,718,832.61. The trade was a 43.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MAC. Scotiabank upgraded Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 target price on the stock in a research report on Tuesday, December 17th. Morgan Stanley raised Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 target price for the company in a report on Wednesday, January 15th. Compass Point increased their price target on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Bank of America boosted their price objective on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Finally, Piper Sandler increased their target price on shares of Macerich from $14.00 to $17.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.