Thrivent Financial for Lutherans Increases Stake in The Macerich Company (NYSE:MAC)

Thrivent Financial for Lutherans lifted its stake in The Macerich Company (NYSE:MAC - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 190,163 shares of the real estate investment trust's stock after purchasing an additional 20,164 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of Macerich worth $3,788,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MAC. FMR LLC raised its position in Macerich by 12,475.9% in the 3rd quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust's stock valued at $214,738,000 after purchasing an additional 11,679,276 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Macerich by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust's stock worth $99,004,000 after acquiring an additional 34,982 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Macerich by 7.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,171,300 shares of the real estate investment trust's stock worth $103,012,000 after purchasing an additional 369,931 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Macerich by 10.0% in the fourth quarter. Fisher Asset Management LLC now owns 3,295,553 shares of the real estate investment trust's stock valued at $65,647,000 after purchasing an additional 299,812 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Macerich by 7.3% in the third quarter. Janus Henderson Group PLC now owns 2,950,224 shares of the real estate investment trust's stock valued at $53,826,000 after purchasing an additional 201,581 shares during the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research analysts have recently issued reports on MAC shares. Deutsche Bank Aktiengesellschaft assumed 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 cut their price target on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday, March 10th. Mizuho raised shares of Macerich from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. Piper Sandler lowered their price objective on Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a report on Friday, February 28th. Finally, Jefferies Financial Group upgraded shares of Macerich from a "hold" rating to a "buy" rating and boosted their target price for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Macerich currently has an average rating of "Hold" and a consensus target price of $19.49.

Macerich Trading Down 1.1 %

Shares of Macerich stock traded down $0.19 during mid-day trading on Friday, hitting $17.10. 995,480 shares of the stock were exchanged, compared to its average volume of 1,896,092. The company has a 50-day simple moving average of $19.04 and a 200 day simple moving average of $19.18. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 43.85, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. The Macerich Company has a twelve month low of $12.99 and a twelve month high of $22.27.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.68 annualized dividend and a yield of 3.98%. Macerich's payout ratio is currently -86.08%.

Macerich 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.