Fisher Asset Management LLC Has $46.50 Million Holdings in The Macerich Company (NYSE:MAC)

Fisher Asset Management LLC cut its stake in The Macerich Company (NYSE:MAC - Free Report) by 18.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,013,808 shares of the real estate investment trust's stock after selling 704,163 shares during the period. Fisher Asset Management LLC owned approximately 1.40% of Macerich worth $46,503,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Macerich in the fourth quarter valued at approximately $22,210,000. Wellington Management Group LLP acquired a new stake in shares of Macerich in the fourth quarter valued at approximately $18,938,000. Waterfront Capital Partners LLC acquired a new stake in shares of Macerich in the fourth quarter valued at approximately $14,609,000. International Assets Investment Management LLC grew its position in shares of Macerich by 1,460.3% in the fourth quarter. International Assets Investment Management LLC now owns 324,502 shares of the real estate investment trust's stock valued at $5,007,000 after purchasing an additional 303,704 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Macerich by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,654,465 shares of the real estate investment trust's stock valued at $71,818,000 after purchasing an additional 165,649 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Scotiabank lowered shares of Macerich from a "sector perform" rating to a "sector underperform" rating and decreased their target price for the stock from $16.00 to $14.00 in a research report on Friday, May 17th. Mizuho decreased their target price on shares of Macerich from $17.00 to $14.00 and set an "underperform" rating on the stock in a research report on Wednesday, May 1st. Citigroup upgraded shares of Macerich from a "sell" rating to a "neutral" rating and raised their target price for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd. The Goldman Sachs Group decreased their price target on shares of Macerich from $14.00 to $12.50 and set a "sell" rating on the stock in a report on Monday. Finally, Compass Point decreased their price target on shares of Macerich from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, May 1st. Five research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $14.64.

Insider Buying and Selling

In other news, CFO Scott W. Kingsmore purchased 6,000 shares of the company's stock in a transaction that occurred on Thursday, May 9th. The shares were purchased at an average price of $16.06 per share, with a total value of $96,360.00. Following the purchase, the chief financial officer now directly owns 42,310 shares of the company's stock, valued at approximately $679,498.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Hern Thomas E. O sold 95,000 shares of the business's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $16.94, for a total value of $1,609,300.00. Following the completion of the sale, the director now owns 102,900 shares of the company's stock, valued at approximately $1,743,126. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott W. Kingsmore bought 6,000 shares of the company's stock in a transaction dated Thursday, May 9th. The stock was bought at an average cost of $16.06 per share, with a total value of $96,360.00. Following the transaction, the chief financial officer now directly owns 42,310 shares in the company, valued at approximately $679,498.60. The disclosure for this purchase can be found here. Insiders have bought 163,365 shares of company stock valued at $2,358,681 in the last quarter. Company insiders own 0.53% of the company's stock.

Macerich Stock Down 0.1 %

Macerich stock traded down $0.01 during midday trading on Monday, hitting $14.47. 1,256,312 shares of the stock were exchanged, compared to its average volume of 1,961,402. The Macerich Company has a 1 year low of $9.21 and a 1 year high of $17.69. The firm has a market cap of $3.12 billion, a P/E ratio of -9.28, a P/E/G ratio of 3.00 and a beta of 2.43. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50 day moving average price of $15.24 and a two-hundred day moving average price of $15.68.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend was Friday, May 17th. Macerich's dividend payout ratio (DPR) is -43.59%.

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.