Wellington Management Group LLP Increases Stake in The Macerich Company (NYSE:MAC)

Wellington Management Group LLP increased its position in The Macerich Company (NYSE:MAC - Free Report) by 845.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,051,286 shares of the real estate investment trust's stock after acquiring an additional 8,988,665 shares during the quarter. Wellington Management Group LLP owned about 3.98% of Macerich worth $200,222,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MAC. Cerity Partners LLC grew its position in Macerich by 21.9% during the third quarter. Cerity Partners LLC now owns 31,368 shares of the real estate investment trust's stock worth $572,000 after buying an additional 5,642 shares in the last quarter. Townsquare Capital LLC grew its holdings in shares of Macerich by 7.2% during the third quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust's stock worth $245,000 after purchasing an additional 902 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Macerich by 399.8% in the third 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 purchasing an additional 1,236,983 shares during the last quarter. Janus Henderson Group PLC raised 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 in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in Macerich during the third quarter valued at approximately $256,000. Hedge funds and other institutional investors own 87.38% of the company's stock.

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Analysts Set New Price Targets

Several analysts have recently weighed in on MAC shares. Morgan Stanley lowered their price objective on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Tuesday. The Goldman Sachs Group lowered their price target on 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 upgraded Macerich from a "hold" rating to a "buy" rating and upped their price objective for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on Macerich in a research report on Tuesday, December 17th. They set a "hold" rating and a $22.00 price objective on the stock. Finally, Piper Sandler dropped 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. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Macerich has a consensus rating of "Hold" and an average price target of $19.37.

Macerich Trading Down 6.9 %

MAC traded down $1.08 during trading on Friday, hitting $14.52. 5,000,596 shares of the stock traded hands, compared to its average volume of 1,933,941. The firm has a market capitalization of $3.67 billion, a P/E ratio of 37.23, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17. The Macerich Company has a 12-month low of $12.99 and a 12-month high of $22.27. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50-day moving average of $18.67 and a 200 day moving average of $19.16.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 4.68%. Macerich's dividend payout ratio (DPR) is presently -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.