Raymond James Financial Inc. Invests $450,000 in The Macerich Company (NYSE:MAC)

Raymond James Financial Inc. purchased a new position in The Macerich Company (NYSE:MAC - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 22,578 shares of the real estate investment trust's stock, valued at approximately $450,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Macerich by 68.8% in the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Macerich by 314.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock valued at $69,000 after buying an additional 2,630 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Macerich by 36.5% in the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock valued at $87,000 after buying an additional 1,174 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Macerich during the 4th quarter valued at $99,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Macerich during the 4th quarter worth $212,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Stock Down 3.1 %

Shares of Macerich stock traded down $0.45 during midday trading on Friday, reaching $13.88. 2,612,584 shares of the company's stock traded hands, compared to its average volume of 1,982,601. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27. The company's 50 day simple moving average is $17.75 and its 200 day simple moving average is $19.02. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 35.60, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17.

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Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a $0.17 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.90%. Macerich's dividend payout ratio is currently -86.08%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MAC. Morgan Stanley cut their target price on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. Truist Financial raised Macerich from a "hold" rating to a "buy" rating and set a $19.00 price target on the stock in a research report on Thursday. 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 research report on Monday, March 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Macerich in a research report on Tuesday, December 17th. They issued a "hold" rating and a $22.00 price target for the company. Finally, Scotiabank lowered their price objective on shares of Macerich from $22.00 to $21.00 and set a "sector perform" rating on the stock in a research report on Thursday, March 6th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Macerich currently has an average rating of "Hold" and an average target price of $19.37.

About Macerich

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.