Twelve Points Wealth Management LLC Has $370,000 Holdings in The Macerich Company (NYSE:MAC)

Twelve Points Wealth Management LLC decreased its holdings in The Macerich Company (NYSE:MAC) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,598 shares of the real estate investment trust’s stock after selling 508 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Macerich were worth $370,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Smead Capital Management Inc. raised its position in shares of Macerich by 3.5% in the third quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock valued at $372,706,000 after buying an additional 688,790 shares in the last quarter. FMR LLC raised its holdings in Macerich by 12,475.9% in the 3rd quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock valued at $214,738,000 after acquiring an additional 11,679,276 shares in the last quarter. Geode Capital Management LLC raised its holdings in Macerich by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust’s stock valued at $99,004,000 after acquiring an additional 34,982 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Macerich by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,801,369 shares of the real estate investment trust’s stock valued at $87,577,000 after acquiring an additional 113,128 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of Macerich by 1.1% during the 3rd quarter. Fisher Asset Management LLC now owns 2,995,741 shares of the real estate investment trust’s stock worth $54,642,000 after purchasing an additional 31,586 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MAC. Scotiabank raised shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price objective for the company in a research report on Tuesday, December 17th. Morgan Stanley upgraded shares of 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. 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 report on Friday, October 11th. Piper Sandler raised their target price on Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Macerich in a report on Tuesday, December 17th. They set a “hold” rating and a $22.00 price target for the company. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.30.

Insider Transactions at Macerich

In related 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 transaction of $1,303,120.51. Following the transaction, the director now directly owns 83,479 shares of the company’s stock, valued at approximately $1,718,832.61. This represents a 43.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Macerich Stock Down 0.6 %

NYSE:MAC opened at $20.46 on Thursday. The Macerich Company has a one year low of $12.99 and a one year high of $22.27. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $5.09 billion, a PE ratio of 52.47, a P/E/G ratio of 0.69 and a beta of 2.51. The firm’s 50 day simple moving average is $20.49 and its 200 day simple moving average is $18.20.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). The business had revenue of $220.20 million for the quarter, compared to analyst estimates of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. Macerich’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. On average, research analysts anticipate that The Macerich Company will post 1.55 earnings per share for the current year.

Macerich Company 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.