Thrivent Financial for Lutherans Has $3.79 Million Stock Position in The Macerich Company (NYSE:MAC)

Thrivent Financial for Lutherans boosted its position in The Macerich Company (NYSE:MAC) by 11.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 190,163 shares of the real estate investment trust’s stock after buying an additional 20,164 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of Macerich worth $3,788,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. grew its position in shares of Macerich by 32.3% in the third quarter. Citigroup Inc. now owns 359,069 shares of the real estate investment trust’s stock valued at $6,549,000 after purchasing an additional 87,611 shares during the last quarter. Bamco Inc. NY boosted its stake in Macerich by 742.3% during the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock valued at $30,924,000 after purchasing an additional 1,494,145 shares during the period. Friedenthal Financial bought a new stake in Macerich during the 4th quarter valued at approximately $771,000. Smartleaf Asset Management LLC grew its holdings in Macerich by 314.2% in 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, Van ECK Associates Corp increased its position in Macerich by 20.4% in the 4th quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust’s stock worth $893,000 after buying an additional 7,608 shares during the period. Institutional investors own 87.38% of the company’s stock.

Analysts Set New Price Targets

MAC has been the topic of several research analyst reports. 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 objective on the stock. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and increased their price target for the company from $14.00 to $22.00 in a report on Wednesday, December 4th. The Goldman Sachs Group dropped their price objective on shares of Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a report on Monday, March 10th. Piper Sandler reduced their target price on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. decreased their target price on Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a research report on Monday, March 10th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Macerich presently has a consensus rating of “Hold” and a consensus price target of $19.49.

Insider Buying and Selling at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of the company’s stock in a transaction dated 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 sale, the director now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.

Macerich Stock Down 2.3 %

NYSE MAC opened at $17.39 on Wednesday. The Macerich Company has a 1-year low of $12.99 and a 1-year high of $22.27. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 44.59, a PEG ratio of 0.71 and a beta of 2.62. The stock’s 50 day moving average is $19.18 and its two-hundred day moving average is $19.16. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich’s dividend payout ratio is -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.