Amalgamated Bank Increases Holdings in The Macerich Company (NYSE:MAC)

Amalgamated Bank increased its stake in The Macerich Company (NYSE:MAC) by 11.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 71,104 shares of the real estate investment trust’s stock after buying an additional 7,436 shares during the quarter. Amalgamated Bank’s holdings in Macerich were worth $1,416,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MAC. Nomura Asset Management Co. Ltd. boosted its stake in Macerich by 0.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust’s stock valued at $5,029,000 after acquiring an additional 700 shares during the last quarter. Townsquare Capital LLC raised its holdings in shares of Macerich by 7.2% in the 3rd quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock worth $245,000 after purchasing an additional 902 shares during the period. Custom Index Systems LLC raised its holdings in shares of Macerich by 8.7% in the 4th 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 during the period. Assetmark Inc. lifted its stake in Macerich by 5.6% in the third quarter. Assetmark Inc. now owns 18,404 shares of the real estate investment trust’s stock valued at $336,000 after purchasing an additional 971 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,064 shares during the period. Institutional investors own 87.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley raised Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price target on the stock in a research report on Wednesday, January 15th. StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of Macerich in a research report on Tuesday, December 17th. They set a “hold” rating and a $22.00 target price for the company. Scotiabank raised shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price target on the stock in a research report on Tuesday, December 17th. Finally, Piper Sandler cut their price objective on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Friday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.22.

Macerich Stock Up 2.0 %

Shares of NYSE:MAC opened at $18.40 on Tuesday. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 47.18, a PEG ratio of 0.71 and a beta of 2.50. The Macerich Company has a one year low of $12.99 and a one year high of $22.27. The firm has a fifty day moving average price of $20.17 and a two-hundred day moving average price of $18.95. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.70%. The ex-dividend date is Tuesday, March 4th. Macerich’s payout ratio is -86.08%.

Insiders Place Their Bets

In other news, Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the completion of the transaction, the director now owns 83,479 shares of the company’s stock, valued at approximately $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

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.