FIL Ltd Raises Position in The Macerich Company (NYSE:MAC)

FIL Ltd boosted its holdings in The Macerich Company (NYSE:MAC - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,158,518 shares of the real estate investment trust's stock after acquiring an additional 51,994 shares during the quarter. FIL Ltd owned 0.47% of Macerich worth $23,078,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MAC. CIBC Private Wealth Group LLC boosted its stake in shares of Macerich by 9.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,787 shares of the real estate investment trust's stock worth $118,000 after buying an additional 512 shares during the last quarter. M&T Bank Corp increased its holdings in Macerich by 2.8% during the fourth quarter. M&T Bank Corp now owns 20,228 shares of the real estate investment trust's stock worth $403,000 after buying an additional 543 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in Macerich by 5.7% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 12,234 shares of the real estate investment trust's stock worth $244,000 after acquiring an additional 665 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in Macerich by 0.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust's stock valued at $5,029,000 after purchasing an additional 700 shares during the last quarter. Finally, Custom Index Systems LLC increased its position in Macerich by 8.7% in the fourth quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust's stock worth $232,000 after buying an additional 928 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts have recently weighed in on MAC shares. Jefferies Financial Group upgraded shares of Macerich from a "hold" rating to a "buy" rating and lifted their target price for the stock from $19.00 to $23.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Macerich in a report on Tuesday, December 17th. They set a "hold" rating and a $22.00 target price for the company. Morgan Stanley lowered their price target on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. JPMorgan Chase & Co. reduced their price objective on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research note on Monday, March 10th. Finally, Scotiabank lowered their target price on shares of Macerich from $22.00 to $21.00 and set a "sector perform" rating on the stock in a research note on Thursday, March 6th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Macerich currently has a consensus rating of "Hold" and a consensus target price of $19.37.

Macerich Price Performance

MAC traded up $0.23 during trading on Tuesday, reaching $14.28. The stock had a trading volume of 1,644,694 shares, compared to its average volume of 1,982,775. 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 business has a 50-day moving average of $17.62 and a 200-day moving average of $18.99. The Macerich Company has a one year low of $12.48 and a one year high of $22.27. The stock has a market cap of $3.60 billion, a PE ratio of 36.61, a PEG ratio of 0.71 and a beta of 2.17.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.76%. Macerich's dividend payout ratio is -86.08%.

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.