Natixis Advisors LLC boosted its stake in The Macerich Company (NYSE:MAC - Free Report) by 21.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,180 shares of the real estate investment trust's stock after purchasing an additional 35,951 shares during the period. Natixis Advisors LLC owned about 0.08% of Macerich worth $4,127,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Macerich by 12,475.9% during the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust's stock valued at $214,738,000 after acquiring an additional 11,679,276 shares during the last quarter. Bamco Inc. NY raised its position in Macerich by 742.3% during the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust's stock valued at $30,924,000 after purchasing an additional 1,494,145 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Macerich by 399.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust's stock worth $28,206,000 after buying an additional 1,236,983 shares during the period. Burkehill Global Management LP bought a new stake in shares of Macerich in the 4th quarter worth approximately $19,920,000. Finally, Brookfield Corp ON purchased a new position in shares of Macerich during the third quarter valued at approximately $9,217,000. Institutional investors own 87.38% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on MAC. Jefferies Financial Group raised shares of Macerich from a "hold" rating to a "buy" rating and boosted their price objective for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Mizuho raised shares of Macerich from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $14.00 to $22.00 in a research note on Wednesday, December 4th. JPMorgan Chase & Co. cut their price objective on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research report on Monday, March 10th. Piper Sandler decreased their target price on Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, February 28th. Finally, Scotiabank dropped their price target on 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 analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Macerich presently has a consensus rating of "Hold" and an average price target of $19.49.
Read Our Latest Report on Macerich
Insider Buying and Selling
In other news, Director Andrea M. Stephen sold 63,289 shares of the firm's stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the sale, the director now owns 83,479 shares of the company's stock, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is owned by corporate insiders.
Macerich Stock Down 0.1 %
NYSE:MAC traded down $0.02 on Wednesday, reaching $17.42. 801,065 shares of the stock traded hands, compared to its average volume of 2,124,413. The company's fifty day simple moving average is $19.18 and its 200 day simple moving average is $19.16. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 44.65, a PEG ratio of 0.71 and a beta of 2.62. The Macerich Company has a 12 month low of $12.99 and a 12 month high of $22.27. 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 Announces Dividend
The firm also recently disclosed 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 of this dividend was Tuesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 3.90%. Macerich's dividend payout ratio (DPR) is presently -86.08%.
Macerich Company Profile
(
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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