Federated Hermes Inc. Reduces Stake in The Macerich Company (NYSE:MAC)

Federated Hermes Inc. decreased its position in The Macerich Company (NYSE:MAC - Free Report) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 741,804 shares of the real estate investment trust's stock after selling 37,088 shares during the period. Federated Hermes Inc. owned approximately 0.30% of Macerich worth $14,777,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Ilmarinen Mutual Pension Insurance Co acquired a new position in shares of Macerich during the fourth quarter valued at about $4,054,000. Envestnet Asset Management Inc. raised its position in shares of Macerich by 4.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 328,694 shares of the real estate investment trust's stock worth $6,548,000 after purchasing an additional 15,362 shares during the period. Wells Fargo & Company MN grew its position in Macerich by 29.6% in the 4th quarter. Wells Fargo & Company MN now owns 176,861 shares of the real estate investment trust's stock valued at $3,523,000 after purchasing an additional 40,357 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in Macerich during the fourth quarter worth $1,974,000. Finally, Geode Capital Management LLC grew its holdings in shares of Macerich by 10.6% during the fourth quarter. Geode Capital Management LLC now owns 6,001,399 shares of the real estate investment trust's stock valued at $119,573,000 after buying an additional 574,490 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

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Macerich Stock Up 2.3 %

MAC traded up $0.33 during midday trading on Tuesday, reaching $14.38. The company's stock had a trading volume of 567,181 shares, compared to its average volume of 1,976,495. 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 stock's 50-day moving average is $17.62 and its 200-day moving average is $18.99. The Macerich Company has a 1 year low of $12.48 and a 1 year high of $22.27. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 36.81, a PEG ratio of 0.71 and a beta of 2.17.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 4.73%. Macerich's payout ratio is presently -86.08%.

Wall Street Analyst Weigh In

A number of analysts have commented on MAC shares. Scotiabank decreased their price objective on Macerich from $22.00 to $21.00 and set a "sector perform" rating for the company in a report on Thursday, March 6th. The Goldman Sachs Group lowered their target price on shares of Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a report on Monday, March 10th. Truist Financial upgraded shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 price objective for the company in a research note on Thursday, April 10th. Jefferies Financial Group raised Macerich from a "hold" rating to a "buy" rating and increased their price target for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Macerich in a research report on Tuesday, December 17th. They set a "hold" rating and a $22.00 target price for the company. Four investment 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. According to MarketBeat.com, Macerich presently has an average rating of "Hold" and an average price target of $19.37.

About Macerich

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.