Fmr LLC Raises Holdings in The Macerich Company (NYSE:MAC)

FMR LLC lifted its holdings in The Macerich Company (NYSE:MAC - Free Report) by 12,475.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,772,891 shares of the real estate investment trust's stock after purchasing an additional 11,679,276 shares during the quarter. FMR LLC owned 5.22% of Macerich worth $214,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. DekaBank Deutsche Girozentrale boosted its stake in shares of Macerich by 158.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 131,487 shares of the real estate investment trust's stock worth $2,201,000 after acquiring an additional 80,541 shares during the last quarter. Murphy Pohlad Asset Management LLC raised its holdings in Macerich by 297.7% during the second quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust's stock valued at $1,707,000 after acquiring an additional 82,760 shares during the period. Quest Partners LLC lifted its position in shares of Macerich by 851.9% in the third quarter. Quest Partners LLC now owns 30,529 shares of the real estate investment trust's stock valued at $557,000 after acquiring an additional 27,322 shares in the last quarter. Citigroup Inc. grew its position in shares of Macerich by 32.3% during the third quarter. Citigroup Inc. now owns 359,069 shares of the real estate investment trust's stock worth $6,549,000 after purchasing an additional 87,611 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in Macerich during the 2nd quarter valued at approximately $10,625,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MAC has been the subject of several recent analyst reports. Piper Sandler upped their price target on Macerich from $11.00 to $14.00 and gave the stock an "underweight" rating in a research note on Tuesday, September 3rd. StockNews.com downgraded shares of Macerich from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Compass Point boosted their price target on shares of Macerich from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their target price on Macerich from $13.00 to $14.60 and gave the stock a "sell" rating in a report on Thursday, September 19th. Finally, Bank of America increased their price target on Macerich from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, October 11th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Macerich presently has an average rating of "Hold" and a consensus price target of $16.40.

Macerich Trading Up 0.1 %

Shares of MAC traded up $0.03 during midday trading on Tuesday, hitting $20.90. The stock had a trading volume of 592,060 shares, compared to its average volume of 1,845,469. The Macerich Company has a 1 year low of $11.94 and a 1 year high of $21.71. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The stock's 50 day moving average is $18.85 and its 200 day moving average is $16.60. The firm has a market cap of $5.19 billion, a PE ratio of 53.51, a price-to-earnings-growth ratio of 0.73 and a beta of 2.51.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The firm had revenue of $220.20 million during the quarter, compared to the consensus estimate of $208.54 million. During the same period in the previous year, the business earned $0.44 EPS. The firm's revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts forecast that The Macerich Company will post 1.58 EPS for the current fiscal year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Tuesday, November 12th. Macerich's dividend payout ratio is presently 174.36%.

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.