The Macerich Company (NYSE:MAC - Get Free Report) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 2,237 put options on the stock. This is an increase of approximately 263% compared to the average volume of 616 put options.
Hedge Funds Weigh In On Macerich
Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in Macerich by 12,475.9% during the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust's stock worth $214,738,000 after acquiring an additional 11,679,276 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Macerich by 845.9% in the 4th quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust's stock valued at $200,222,000 after purchasing an additional 8,988,665 shares during the period. Vanguard Group Inc. lifted its stake in Macerich by 13.2% in the 4th quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust's stock valued at $769,260,000 after purchasing an additional 4,503,509 shares during the last quarter. Bamco Inc. NY lifted its stake in Macerich by 175.8% in the 4th quarter. Bamco Inc. NY now owns 4,675,471 shares of the real estate investment trust's stock valued at $93,135,000 after purchasing an additional 2,980,051 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in Macerich by 463.6% during the fourth quarter. Prudential Financial Inc. now owns 2,590,689 shares of the real estate investment trust's stock worth $51,607,000 after purchasing an additional 2,131,030 shares during the period. 87.38% of the stock is owned by institutional investors.
Macerich Stock Down 1.1 %
Shares of Macerich stock traded down $0.19 during trading hours on Friday, reaching $17.10. 995,480 shares of the company's stock were exchanged, compared to its average volume of 1,896,092. 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 company has a 50 day moving average of $19.04 and a two-hundred day moving average of $19.15. The stock has a market cap of $4.32 billion, a P/E ratio of 43.85, a P/E/G ratio of 0.71 and a beta of 2.62. Macerich has a fifty-two week low of $12.99 and a fifty-two week high of $22.27.
Macerich Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich's dividend payout ratio is currently -86.08%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on MAC. Deutsche Bank Aktiengesellschaft began coverage on Macerich in a research note on Tuesday, December 17th. They issued a "hold" rating and a $22.00 price target for the company. JPMorgan Chase & Co. lowered their target price 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. Mizuho raised shares of Macerich from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Morgan Stanley upgraded shares of Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 price objective for the company in a research report on Wednesday, January 15th. Finally, Piper Sandler decreased their target price on Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a research note on Friday, February 28th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $19.49.
Check Out Our Latest Analysis on MAC
Macerich Company Profile
(
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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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