JPMorgan Chase & Co. Increases Stock Position in The Macerich Company (NYSE:MAC)

JPMorgan Chase & Co. increased its holdings in The Macerich Company (NYSE:MAC - Free Report) by 77.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,812,987 shares of the real estate investment trust's stock after acquiring an additional 1,667,066 shares during the period. JPMorgan Chase & Co. owned about 1.53% of Macerich worth $75,955,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in Macerich in the 4th quarter valued at $30,000. Blue Trust Inc. lifted its holdings in shares of Macerich by 68.8% in the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock worth $48,000 after buying an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Macerich by 314.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock valued at $69,000 after purchasing an additional 2,630 shares during the period. GAMMA Investing LLC grew its position in shares of Macerich by 36.5% during the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock valued at $87,000 after purchasing an additional 1,174 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Macerich in the fourth quarter worth $99,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MAC. Truist Financial decreased their price objective on shares of Macerich from $23.00 to $19.00 and set a "hold" rating on the stock in a research report on Tuesday, April 1st. Scotiabank cut their price objective on Macerich from $22.00 to $21.00 and set a "sector perform" rating on the stock in a research report on Thursday, March 6th. Piper Sandler lowered 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. Morgan Stanley dropped their price target on Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. Finally, The Goldman Sachs Group decreased their price objective on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a report on Monday, March 10th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $19.37.

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Macerich Stock Down 6.3 %

NYSE:MAC traded down $0.89 on Tuesday, reaching $13.19. 3,395,508 shares of the stock traded hands, compared to its average volume of 1,951,628. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 0.71 and a beta of 2.17. 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's fifty day simple moving average is $18.24 and its 200 day simple moving average is $19.10. The Macerich Company has a 12 month low of $12.99 and a 12 month high of $22.27.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich's payout ratio is -86.08%.

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.