The Macerich Company (NYSE:MAC) Shares Sold by Koss Olinger Consulting LLC

Koss Olinger Consulting LLC lessened its stake in shares of The Macerich Company (NYSE:MAC) by 22.3% in the 4th quarter, Holdings Channel reports. The firm owned 58,134 shares of the real estate investment trust’s stock after selling 16,709 shares during the period. Koss Olinger Consulting LLC’s holdings in Macerich were worth $1,158,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Macerich in the 4th quarter valued at about $2,682,000. Maryland State Retirement & Pension System raised its holdings in Macerich by 13.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 82,684 shares of the real estate investment trust’s stock valued at $1,647,000 after acquiring an additional 9,746 shares during the last quarter. Xponance Inc. raised its holdings in Macerich by 23.5% in the 4th quarter. Xponance Inc. now owns 17,660 shares of the real estate investment trust’s stock valued at $352,000 after acquiring an additional 3,356 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Macerich by 11.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 190,163 shares of the real estate investment trust’s stock valued at $3,788,000 after acquiring an additional 20,164 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new stake in Macerich in the 4th quarter valued at about $441,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Performance

NYSE:MAC opened at $17.18 on Wednesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $4.34 billion, a P/E ratio of 44.04, a PEG ratio of 0.71 and a beta of 2.62. The company has a 50 day moving average price of $19.41 and a 200 day moving average price of $19.10. The Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.96%. Macerich’s payout ratio is currently -86.08%.

Insider Buying and Selling

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total value 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 $1,718,832.61. This trade represents a 43.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on MAC shares. Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $14.00 to $22.00 in a report on Wednesday, December 4th. Scotiabank dropped their price target on shares of Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a research note on Thursday, March 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Macerich in a research note on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price target for the company. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and increased their price target for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. Finally, The Goldman Sachs Group dropped their price target on shares of Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a research note on Monday, March 10th. Four 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.03.

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.