Marshall Wace LLP Trims Stake in The Macerich Company (NYSE:MAC)

Marshall Wace LLP cut its stake in shares of The Macerich Company (NYSE:MAC - Free Report) by 14.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 325,608 shares of the real estate investment trust's stock after selling 55,285 shares during the quarter. Marshall Wace LLP owned approximately 0.13% of Macerich worth $6,486,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of 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 worth $769,260,000 after purchasing an additional 4,503,509 shares during the period. FMR LLC raised its position in shares of Macerich by 87.3% in the 4th quarter. FMR LLC now owns 22,047,786 shares of the real estate investment trust's stock worth $439,192,000 after acquiring an additional 10,274,895 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Macerich by 845.9% during the 4th quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust's stock worth $200,222,000 after purchasing an additional 8,988,665 shares during the last quarter. Geode Capital Management LLC boosted its position in Macerich by 10.6% during the fourth 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 purchasing an additional 574,490 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Macerich by 7.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,171,300 shares of the real estate investment trust's stock valued at $103,012,000 after purchasing an additional 369,931 shares during the last quarter. Institutional investors own 87.38% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on MAC shares. JPMorgan Chase & Co. decreased their price target on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research report on Monday, March 10th. Morgan Stanley decreased their target price on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. Truist Financial raised shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 price target on the stock in a report on Thursday, April 10th. Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and increased their price objective for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Finally, Scotiabank dropped their target price on Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $18.95.

Macerich Stock Performance

NYSE MAC traded up $0.17 on Friday, hitting $14.84. 1,120,768 shares of the company's stock traded hands, compared to its average volume of 1,998,628. The firm has a market capitalization of $3.75 billion, a PE ratio of 38.05, a P/E/G ratio of 0.71 and a beta of 2.17. The Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27. The firm's 50-day moving average price is $16.50 and its two-hundred day moving average price is $18.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 4.58%. The ex-dividend date was Tuesday, March 4th. Macerich's payout ratio is -86.08%.

Macerich Company 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.