The Macerich Company (NYSE:MAC) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its stake in shares of The Macerich Company (NYSE:MAC - Free Report) by 69.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,062,621 shares of the real estate investment trust's stock after selling 2,421,824 shares during the period. Wellington Management Group LLP owned approximately 0.47% of Macerich worth $19,382,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of MAC. Quantinno Capital Management LP purchased a new stake in shares of Macerich during the 3rd quarter worth $256,000. Janus Henderson Group PLC raised its stake in Macerich by 7.3% during the 3rd 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 acquiring an additional 201,581 shares during the last quarter. Bamco Inc. NY grew its stake in shares of Macerich by 742.3% in 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. Edgestream Partners L.P. grew its position in Macerich by 143.6% in the 3rd quarter. Edgestream Partners L.P. now owns 301,376 shares of the real estate investment trust's stock valued at $5,497,000 after buying an additional 177,645 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Macerich by 399.8% during 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 acquiring an additional 1,236,983 shares during the period. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. The Goldman Sachs Group upped their price objective on Macerich from $13.00 to $14.60 and gave the stock a "sell" rating in a report on Thursday, September 19th. Mizuho upgraded shares of Macerich from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $14.00 to $22.00 in a research report on Wednesday, December 4th. Piper Sandler lifted their target price on shares of Macerich from $14.00 to $17.00 and gave the stock an "underweight" rating in a research report on Wednesday. StockNews.com lowered shares of Macerich from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Finally, Bank of America increased their target price on Macerich from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, October 11th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $17.62.

Macerich Stock Up 2.4 %

Shares of NYSE:MAC traded up $0.50 during midday trading on Friday, hitting $21.50. 1,124,612 shares of the company's stock traded hands, compared to its average volume of 1,863,765. 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 Macerich Company has a twelve month low of $12.99 and a twelve month high of $22.27. The company has a market cap of $5.34 billion, a PE ratio of 55.13, a P/E/G ratio of 0.74 and a beta of 2.51. The firm's fifty day moving average price is $19.52 and its two-hundred day moving average price is $16.97.

Macerich (NYSE:MAC - Get Free Report) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.90). Macerich had a net margin of 8.98% and a return on equity of 3.15%. The firm had revenue of $220.20 million during the quarter, compared to analysts' expectations of $208.54 million. During the same quarter last year, the company posted $0.44 earnings per share. Macerich's revenue for the quarter was up .9% compared to the same quarter last year. On average, equities research analysts anticipate that The Macerich Company will post 1.56 EPS for the current fiscal year.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.16%. The ex-dividend date was Tuesday, November 12th. Macerich's payout ratio is currently 174.36%.

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.