APG Asset Management US Inc. purchased a new position in The Macerich Company (NYSE:MAC - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,206,172 shares of the real estate investment trust's stock, valued at approximately $24,027,000. APG Asset Management US Inc. owned about 0.49% of Macerich as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. FMR LLC raised its position in shares of Macerich by 87.3% in the 4th quarter. FMR LLC now owns 22,047,786 shares of the real estate investment trust's stock valued at $439,192,000 after acquiring an additional 10,274,895 shares during the period. Wellington Management Group LLP raised its holdings in Macerich by 845.9% in the fourth quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust's stock worth $200,222,000 after purchasing an additional 8,988,665 shares during the period. Vanguard Group Inc. boosted its position in shares of Macerich by 13.2% during the fourth quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust's stock worth $769,260,000 after purchasing an additional 4,503,509 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Macerich by 463.6% in the 4th quarter. Prudential Financial Inc. now owns 2,590,689 shares of the real estate investment trust's stock valued at $51,607,000 after buying an additional 2,131,030 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Macerich by 77.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,812,987 shares of the real estate investment trust's stock worth $75,955,000 after buying an additional 1,667,066 shares during the period. 87.38% of the stock is owned by institutional investors and hedge funds.
Macerich Stock Performance
Shares of MAC traded down $0.01 during midday trading on Monday, reaching $13.91. The stock had a trading volume of 382,052 shares, compared to its average volume of 1,976,417. 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 firm has a 50 day simple moving average of $17.75 and a 200-day simple moving average of $19.02. The firm has a market cap of $3.51 billion, a PE ratio of 35.67, a P/E/G ratio of 0.71 and a beta of 2.17. The Macerich Company has a one year low of $12.48 and a one year high of $22.27.
Macerich Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were paid a $0.17 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 annualized dividend and a yield of 4.89%. Macerich's dividend payout ratio is -86.08%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Macerich in a report on Tuesday, December 17th. They set a "hold" rating and a $22.00 price objective on the stock. Jefferies Financial Group raised shares of Macerich from a "hold" rating to a "buy" rating and increased their price objective for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. Piper Sandler cut their price objective on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research note on Monday, March 10th. Finally, Scotiabank reduced their price objective on Macerich from $22.00 to $21.00 and set a "sector perform" rating for the company in a research report on Thursday, March 6th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $19.37.
Get Our Latest Research Report on MAC
Macerich Profile
(
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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