FMR LLC increased its position in shares of The Macerich Company (NYSE:MAC - Free Report) by 87.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,047,786 shares of the real estate investment trust's stock after purchasing an additional 10,274,895 shares during the quarter. FMR LLC owned 8.87% of Macerich worth $439,192,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ilmarinen Mutual Pension Insurance Co acquired a new position in Macerich during the fourth quarter valued at approximately $4,054,000. Envestnet Asset Management Inc. grew its position in Macerich by 4.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 328,694 shares of the real estate investment trust's stock valued at $6,548,000 after acquiring an additional 15,362 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Macerich by 29.6% in the fourth quarter. Wells Fargo & Company MN now owns 176,861 shares of the real estate investment trust's stock worth $3,523,000 after acquiring an additional 40,357 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Macerich during the fourth quarter worth $1,974,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Macerich by 10.6% during the 4th 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 acquiring an additional 574,490 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.
Macerich Stock Performance
Shares of NYSE MAC traded up $0.33 during trading on Tuesday, reaching $14.38. 567,181 shares of the stock traded hands, compared to its average volume of 1,976,495. The company has a 50-day moving average of $17.62 and a 200-day moving average of $18.99. The Macerich Company has a 52-week low of $12.48 and a 52-week high of $22.27. The stock has a market capitalization of $3.63 billion, a P/E ratio of 36.81, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.
Macerich Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich's dividend payout ratio (DPR) is currently -86.08%.
Analyst Ratings Changes
MAC has been the subject of several research reports. 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a research note on Tuesday, December 17th. They set a "hold" rating and a $22.00 price target for the company. JPMorgan Chase & Co. cut their target price on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a report on Monday, March 10th. Piper Sandler lowered their price objective on Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, February 28th. Finally, Truist Financial upgraded Macerich from a "hold" rating to a "buy" rating and set a $19.00 target price on the stock in a report on Thursday, April 10th. 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $19.37.
Get Our Latest Stock 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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