Victory Capital Management Inc. Acquires 1,930 Shares of The Macerich Company (NYSE:MAC)

Victory Capital Management Inc. grew its stake in shares of The Macerich Company (NYSE:MAC) by 2.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 90,988 shares of the real estate investment trust’s stock after purchasing an additional 1,930 shares during the quarter. Victory Capital Management Inc.’s holdings in Macerich were worth $1,812,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MAC. Nicola Wealth Management LTD. bought a new position in Macerich during the 4th quarter worth approximately $794,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Macerich by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,171,300 shares of the real estate investment trust’s stock worth $103,012,000 after purchasing an additional 369,931 shares during the last quarter. B&I Capital AG purchased a new position in shares of Macerich in the fourth quarter worth $7,379,000. Smartleaf Asset Management LLC raised its holdings in Macerich by 314.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 2,630 shares during the last quarter. Finally, Hanover Advisors Inc. bought a new stake in Macerich during the 4th quarter valued at $314,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Stock Up 3.7 %

Shares of Macerich stock opened at $17.10 on Tuesday. The Macerich Company has a 1 year low of $12.99 and a 1 year high of $22.27. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 0.71 and a beta of 2.62. The company has a 50-day moving average of $19.48 and a 200 day moving average of $19.09. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 3.98%. Macerich’s payout ratio is -86.08%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MAC. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Macerich in a research report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a research report on Monday, March 10th. Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and raised their price target for the stock from $19.00 to $23.00 in a research note on Thursday, January 2nd. Finally, Scotiabank reduced their price objective on shares of Macerich from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Macerich has an average rating of “Hold” and an average target price of $19.03.

Insider Transactions at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction dated 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 completion of the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.