Custom Index Systems LLC Boosts Stake in The Macerich Company (NYSE:MAC)

Custom Index Systems LLC increased its position in shares of The Macerich Company (NYSE:MAC) by 8.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,630 shares of the real estate investment trust’s stock after buying an additional 928 shares during the quarter. Custom Index Systems LLC’s holdings in Macerich were worth $232,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of Macerich by 152.2% during the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 933 shares during the last quarter. GAMMA Investing LLC boosted its stake in Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 933 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Macerich by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 2,161 shares during the last quarter. KBC Group NV increased its stake in Macerich by 92.1% in the fourth quarter. KBC Group NV now owns 11,814 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 5,664 shares during the period. Finally, Townsquare Capital LLC raised its holdings in shares of Macerich by 7.2% in the third quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock valued at $245,000 after buying an additional 902 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Trading Down 0.6 %

Shares of MAC stock opened at $20.75 on Friday. The stock has a market cap of $5.16 billion, a P/E ratio of 53.21, a P/E/G ratio of 0.71 and a beta of 2.51. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. The business has a fifty day simple moving average of $20.53 and a 200-day simple moving average of $18.27.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Bank of America lifted their target price on Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Macerich in a research note on Tuesday, December 17th. They set a “hold” rating and a $22.00 price target on the stock. Scotiabank raised Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price objective on the stock in a report on Tuesday, December 17th. Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and raised their price target for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Finally, Piper Sandler upped their price objective on Macerich from $14.00 to $17.00 and gave the stock an “underweight” rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Macerich has a consensus rating of “Hold” and an average price target of $19.30.

Insider Buying and Selling

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 83,479 shares of the company’s stock, valued at approximately $1,718,832.61. This trade represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.53% of the company’s stock.

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.