The Macerich Company (NYSE:MAC) Shares Sold by Centersquare Investment Management LLC

Centersquare Investment Management LLC lessened its stake in shares of The Macerich Company (NYSE:MAC - Free Report) by 11.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,015,438 shares of the real estate investment trust's stock after selling 255,960 shares during the period. Centersquare Investment Management LLC owned 0.81% of Macerich worth $40,148,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Friedenthal Financial acquired a new position in Macerich in the 4th quarter valued at about $771,000. Smartleaf Asset Management LLC increased its stake in 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 acquiring an additional 2,630 shares during the last quarter. Van ECK Associates Corp raised 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 purchasing an additional 7,608 shares during the period. New York State Teachers Retirement System lifted its stake in shares of Macerich by 2.2% in the 4th quarter. New York State Teachers Retirement System now owns 183,508 shares of the real estate investment trust's stock valued at $3,655,000 after purchasing an additional 3,979 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Macerich by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,162,987 shares of the real estate investment trust's stock worth $43,087,000 after purchasing an additional 142,566 shares during the period. Hedge funds and other institutional investors own 87.38% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Macerich from a "hold" rating to a "buy" rating and boosted their price target for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. Morgan Stanley decreased their price target on Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. JPMorgan Chase & Co. dropped their price objective on 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 started coverage on Macerich in a research note on Tuesday, December 17th. They set a "hold" rating and a $22.00 target price on the stock. Finally, The Goldman Sachs Group dropped their target price on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research report on Monday, March 10th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $19.37.

Macerich Stock Down 2.7 %

NYSE MAC traded down $0.35 on Wednesday, hitting $12.89. 1,939,603 shares of the stock were exchanged, compared to its average volume of 2,223,989. The Macerich Company has a fifty-two week low of $12.48 and a fifty-two week high of $22.27. The company has a 50-day moving average price of $18.24 and a 200-day moving average price of $19.10. 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 company has a market cap of $3.25 billion, a PE ratio of 33.00, a PEG ratio of 0.71 and a beta of 2.17.

Macerich Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 5.28%. The ex-dividend date was Tuesday, March 4th. Macerich's dividend payout ratio (DPR) is presently -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.