Fisher Asset Management LLC Purchases 299,812 Shares of The Macerich Company (NYSE:MAC)

Fisher Asset Management LLC increased its stake in The Macerich Company (NYSE:MAC - Free Report) by 10.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,295,553 shares of the real estate investment trust's stock after purchasing an additional 299,812 shares during the quarter. Fisher Asset Management LLC owned approximately 1.33% of Macerich worth $65,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its stake in shares of Macerich by 0.3% in the 3rd 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 buying an additional 700 shares in the last quarter. Lodestone Wealth Management LLC grew its stake in shares of Macerich by 0.6% in the 3rd quarter. Lodestone Wealth Management LLC now owns 154,082 shares of the real estate investment trust's stock valued at $2,810,000 after buying an additional 859 shares in the last quarter. Townsquare Capital LLC grew its stake in shares of Macerich by 7.2% in the 3rd quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust's stock valued at $245,000 after buying an additional 902 shares in the last quarter. Custom Index Systems LLC grew its stake in shares of Macerich by 8.7% in the 4th quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust's stock valued at $232,000 after buying an additional 928 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Macerich by 152.2% in the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 933 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. StockNews.com cut Macerich from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft began coverage on Macerich in a report on Tuesday, December 17th. They issued a "hold" rating and a $22.00 target price for the company. Morgan Stanley upgraded Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 target price for the company in a report on Wednesday, January 15th. Mizuho upgraded Macerich from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. Finally, Scotiabank upgraded Macerich from a "sector underperform" rating to a "sector perform" rating and set a $22.00 target price for the company in a report on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $19.22.

Macerich Stock Performance

Shares of MAC stock traded up $0.40 during trading hours on Wednesday, reaching $18.19. 4,459,673 shares of the company's stock were exchanged, compared to its average volume of 1,788,737. The Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. The stock has a market capitalization of $4.59 billion, a P/E ratio of 46.64, a P/E/G ratio of 0.71 and a beta of 2.62. The business has a fifty day moving average price of $20.08 and a 200-day moving average price of $18.99. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.74%. Macerich's dividend payout ratio (DPR) is presently -86.08%.

Insider Activity

In other news, Director Andrea M. Stephen sold 63,289 shares of the business's stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the sale, the director now directly owns 83,479 shares in the company, valued at approximately $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.

Macerich 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.