Ameriprise Financial Inc. Acquires 249,592 Shares of The Macerich Company (NYSE:MAC)

Ameriprise Financial Inc. lifted its position in The Macerich Company (NYSE:MAC - Free Report) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,280,658 shares of the real estate investment trust's stock after acquiring an additional 249,592 shares during the period. Ameriprise Financial Inc. owned 1.32% of Macerich worth $65,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MAC. FMR LLC raised its holdings in shares of Macerich by 87.3% in the 4th quarter. FMR LLC now owns 22,047,786 shares of the real estate investment trust's stock valued at $439,192,000 after buying an additional 10,274,895 shares during the period. Wellington Management Group LLP boosted its position in shares of Macerich by 845.9% in the 4th quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust's stock valued at $200,222,000 after purchasing an additional 8,988,665 shares during the period. Vanguard Group Inc. boosted its position in shares of Macerich by 13.2% in the 4th quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust's stock valued at $769,260,000 after purchasing an additional 4,503,509 shares during the period. Prudential Financial Inc. lifted its position in Macerich by 463.6% during the 4th quarter. Prudential Financial Inc. now owns 2,590,689 shares of the real estate investment trust's stock worth $51,607,000 after acquiring an additional 2,131,030 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Macerich by 77.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,812,987 shares of the real estate investment trust's stock worth $75,955,000 after buying an additional 1,667,066 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Scotiabank dropped their price objective on Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group reduced their price objective on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research report on Monday, March 10th. JPMorgan Chase & Co. reduced their price target on Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research report on Monday, March 10th. Morgan Stanley reduced their target price on Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Finally, Truist Financial upgraded Macerich from a "hold" rating to a "buy" rating and set a $19.00 price objective on the stock in a report on Thursday, April 10th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $18.95.

Macerich Trading Down 2.8%

Shares of MAC stock traded down $0.47 during trading hours on Tuesday, reaching $16.07. The company had a trading volume of 1,996,347 shares, compared to its average volume of 1,938,471. 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 Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27. The company has a 50 day moving average of $15.59 and a 200 day moving average of $18.52. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 41.21, a P/E/G ratio of 0.71 and a beta of 2.13.

Macerich (NYSE:MAC - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The business had revenue of $249.22 million during the quarter, compared to analysts' expectations of $221.61 million. During the same quarter in the prior year, the company earned $0.33 EPS. The firm's quarterly revenue was up 19.3% on a year-over-year basis. On average, equities research analysts anticipate that The Macerich Company will post 1.55 EPS for the current year.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Tuesday, June 3rd. Macerich's dividend payout ratio is -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.