Vanguard Group Inc. Purchases 4,503,509 Shares of The Macerich Company (NYSE:MAC)

Vanguard Group Inc. raised its holdings in shares of The Macerich Company (NYSE:MAC - Free Report) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,617,446 shares of the real estate investment trust's stock after buying an additional 4,503,509 shares during the period. Vanguard Group Inc. owned about 15.54% of Macerich worth $769,260,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MAC. Quantbot Technologies LP purchased a new stake in shares of Macerich in the 4th quarter worth $30,000. Blue Trust Inc. grew its holdings in Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 1,064 shares during the period. Smartleaf Asset Management LLC increased its position in 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 worth $69,000 after buying an additional 2,630 shares in the last quarter. GAMMA Investing LLC raised 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 buying an additional 1,174 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Macerich during the 4th quarter valued at about $99,000. 87.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MAC has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Macerich in a report on Tuesday, December 17th. They issued a "hold" rating and a $22.00 target price for the company. The Goldman Sachs Group decreased their price objective 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. Jefferies Financial Group raised shares of Macerich from a "hold" rating to a "buy" rating and upped their target price for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. cut their price target on Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research note on Monday, March 10th. Finally, Scotiabank lowered their price objective 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 research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.37.

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Macerich Price Performance

Shares of NYSE:MAC traded down $2.10 on Thursday, reaching $15.62. The company's stock had a trading volume of 3,677,492 shares, compared to its average volume of 1,917,877. The company has a market cap of $3.94 billion, a P/E ratio of 40.04, a PEG ratio of 0.71 and a beta of 2.62. The Macerich Company has a 52-week low of $12.99 and a 52-week high of $22.27. 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 company has a 50-day simple moving average of $18.79 and a 200 day simple moving average of $19.18.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich's dividend payout ratio (DPR) is -86.08%.

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.