New Age Alpha Advisors LLC bought a new stake in The Macerich Company (NYSE:MAC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 41,466 shares of the real estate investment trust's stock, valued at approximately $826,000.
Several other hedge funds have also made changes to their positions in the company. Bamco Inc. NY lifted its holdings in Macerich by 742.3% in the third quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust's stock valued at $30,924,000 after acquiring an additional 1,494,145 shares during the last quarter. Friedenthal Financial purchased a new stake in Macerich in the fourth quarter valued at $771,000. Smartleaf Asset Management LLC lifted its stake in shares of 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 purchasing an additional 2,630 shares during the last quarter. Van ECK Associates Corp lifted its position in Macerich by 20.4% in the fourth quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust's stock valued at $893,000 after buying an additional 7,608 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its position in shares of Macerich by 2.2% during the 4th quarter. New York State Teachers Retirement System now owns 183,508 shares of the real estate investment trust's stock worth $3,655,000 after purchasing an additional 3,979 shares during the period. Hedge funds and other institutional investors own 87.38% of the company's stock.
Wall Street Analyst Weigh In
MAC has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a report on Monday, March 10th. Scotiabank lowered their price objective 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. Piper Sandler dropped their price objective on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a report on Friday, February 28th. Truist Financial decreased their price target on shares of Macerich from $23.00 to $19.00 and set a "hold" rating for the company in a research report on Tuesday. Finally, The Goldman Sachs Group cut their price objective on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research report on Monday, March 10th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $19.37.
Read Our Latest Stock Report on Macerich
Macerich Stock Down 6.0 %
NYSE MAC traded down $0.94 during trading on Friday, reaching $14.66. 3,036,237 shares of the company's stock were exchanged, compared to its average volume of 2,160,792. The Macerich Company has a 1 year low of $12.99 and a 1 year high of $22.27. The stock has a market cap of $3.70 billion, a P/E ratio of 37.54, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17. 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 company has a 50 day moving average price of $18.79 and a two-hundred day moving average price of $19.18.
Macerich Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich's dividend payout ratio (DPR) is -86.08%.
Macerich Profile
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Free Report)
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.
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