Geode Capital Management LLC grew its stake in The Macerich Company (NYSE:MAC - Free Report) by 10.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,001,399 shares of the real estate investment trust's stock after buying an additional 574,490 shares during the period. Geode Capital Management LLC owned approximately 2.41% of Macerich worth $119,573,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP acquired a new position in Macerich during the fourth quarter valued at approximately $30,000. Blue Trust Inc. lifted its position in Macerich by 68.8% during the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock worth $48,000 after acquiring an additional 1,064 shares during the last quarter. Smartleaf Asset Management LLC grew its position 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 purchasing an additional 2,630 shares during the last quarter. GAMMA Investing LLC increased its stake 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 worth $87,000 after purchasing an additional 1,174 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Macerich during the 4th quarter worth about $99,000. 87.38% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several brokerages have commented on MAC. Jefferies Financial Group raised Macerich from a "hold" rating to a "buy" rating and lifted their price target for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. The Goldman Sachs Group dropped their target price on shares of Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research report on Monday, March 10th. Piper Sandler reduced their price target on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Macerich in a report on Tuesday, December 17th. They set a "hold" rating and a $22.00 price objective on the stock. Finally, Truist Financial upgraded shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 target price for the company in a research note on Thursday. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $19.37.
View Our Latest Research Report on Macerich
Macerich Price Performance
MAC stock traded up $0.19 during midday trading on Monday, reaching $14.11. 117,910 shares of the company's stock traded hands, compared to its average volume of 1,975,346. 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 company has a market cap of $3.56 billion, a price-to-earnings ratio of 36.17, a PEG ratio of 0.71 and a beta of 2.17. The company has a 50-day simple moving average of $17.75 and a two-hundred day simple moving average of $19.02. The Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27.
Macerich Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 annualized dividend and a yield of 4.82%. Macerich's dividend payout ratio (DPR) is -86.08%.
Macerich Profile
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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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