Sei Investments Co. Has $16.50 Million Stake in The Macerich Company (NYSE:MAC)

Sei Investments Co. raised its stake in The Macerich Company (NYSE:MAC - Free Report) by 27.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 828,498 shares of the real estate investment trust's stock after acquiring an additional 180,293 shares during the period. Sei Investments Co. owned approximately 0.33% of Macerich worth $16,504,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new position in Macerich in the fourth quarter valued at about $30,000. Blue Trust Inc. increased its holdings in Macerich by 68.8% in the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 1,064 shares during the period. Smartleaf Asset Management LLC increased 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 buying an additional 2,630 shares during the period. GAMMA Investing LLC raised its position in shares of Macerich by 36.5% in the 4th 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. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Macerich during the 4th quarter worth approximately $99,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Trading Up 3.9 %

Shares of MAC stock traded up $0.67 during trading hours on Wednesday, hitting $17.73. 2,667,271 shares of the company's stock traded hands, compared to its average volume of 1,908,760. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 12 month low of $12.99 and a 12 month high of $22.27. The stock has a market cap of $4.48 billion, a PE ratio of 45.46, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. The stock's 50 day simple moving average is $18.88 and its 200 day simple moving average is $19.20.

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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 3.84%. Macerich's dividend payout ratio (DPR) is presently -86.08%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research note on Monday, March 10th. Deutsche Bank Aktiengesellschaft started coverage on Macerich in a report on Tuesday, December 17th. They set a "hold" rating and a $22.00 price target for the company. Morgan Stanley reduced their price objective on Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Truist Financial lowered their target price on Macerich from $23.00 to $19.00 and set a "hold" rating for the company in a research note on Tuesday. Finally, Mizuho upgraded shares of Macerich from an "underperform" rating to a "neutral" rating and raised their price target for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $19.37.

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.