LPL Financial LLC lessened its stake in The Macerich Company (NYSE:MAC - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 539,522 shares of the real estate investment trust's stock after selling 30,260 shares during the quarter. LPL Financial LLC owned about 0.22% of Macerich worth $10,747,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Macerich by 399.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust's stock valued at $28,206,000 after purchasing an additional 1,236,983 shares during the period. Burkehill Global Management LP acquired a new stake in shares of Macerich in the fourth quarter valued at about $19,920,000. Brookfield Corp ON purchased a new stake in shares of Macerich during the 3rd quarter valued at about $9,217,000. Aew Capital Management L P lifted its position in Macerich by 26.4% during the 4th quarter. Aew Capital Management L P now owns 2,170,006 shares of the real estate investment trust's stock worth $43,227,000 after acquiring an additional 453,180 shares in the last quarter. Finally, B&I Capital AG purchased a new position in Macerich in the 4th quarter worth approximately $7,379,000. Hedge funds and other institutional investors own 87.38% of the company's stock.
Macerich Price Performance
Macerich stock traded down $0.89 during mid-day trading on Tuesday, hitting $13.19. The company's stock had a trading volume of 3,395,508 shares, compared to its average volume of 1,951,628. The stock has a market capitalization of $3.33 billion, a P/E ratio of 33.81, a P/E/G ratio of 0.71 and a beta of 2.17. The Macerich Company has a twelve month low of $12.99 and a twelve month high of $22.27. The stock's fifty day moving average price is $18.24 and its two-hundred day moving average price is $19.10. 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 Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.17 per share. 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 dividend payout ratio (DPR) is presently -86.08%.
Wall Street Analysts Forecast Growth
MAC has been the topic of a number of analyst reports. Piper Sandler dropped their price objective on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, February 28th. Scotiabank dropped their price target on shares of Macerich from $22.00 to $21.00 and set a "sector perform" rating on the stock in a research note on Thursday, March 6th. The Goldman Sachs Group decreased their price objective on shares of Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research report on Monday, March 10th. Truist Financial lowered their price objective on Macerich from $23.00 to $19.00 and set a "hold" rating for the company in a report on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Macerich in a report on Tuesday, December 17th. They issued a "hold" rating and a $22.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $19.37.
Get Our Latest Stock Analysis on Macerich
Macerich Company 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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