Cibc World Markets Corp Invests $441,000 in The Macerich Company (NYSE:MAC)

Cibc World Markets Corp bought a new position in The Macerich Company (NYSE:MAC) during the 4th quarter, HoldingsChannel.com reports. The fund bought 22,157 shares of the real estate investment trust’s stock, valued at approximately $441,000.

Several other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,064 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Macerich by 314.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 2,630 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Macerich by 36.5% during the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 1,174 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Macerich during the fourth quarter worth approximately $99,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Macerich during the fourth quarter worth approximately $212,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following 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 legal filing with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MAC has been the subject of a number of analyst reports. Morgan Stanley upgraded shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 target price for the company in a research note on Wednesday, January 15th. Scotiabank reduced their target price 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. JPMorgan Chase & Co. reduced their target price on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a research note on Monday, March 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a research note on Tuesday, December 17th. They issued a “hold” rating and a $22.00 target price for the company. Finally, Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Macerich presently has an average rating of “Hold” and an average target price of $19.20.

Macerich Price Performance

Shares of Macerich stock opened at $17.27 on Monday. The firm has a fifty day simple moving average of $19.25 and a 200-day simple moving average of $19.13. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 1-year low of $12.99 and a 1-year high of $22.27. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 44.27, a PEG ratio of 0.71 and a beta of 2.62.

Macerich Dividend Announcement

The business also recently announced 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. This represents a $0.68 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Tuesday, March 4th. Macerich’s dividend payout ratio (DPR) is currently -86.08%.

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.