Bamco Inc. NY Boosts Stock Position in The Macerich Company (NYSE:MAC)

Bamco Inc. NY boosted its position in shares of The Macerich Company (NYSE:MAC - Free Report) by 175.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,675,471 shares of the real estate investment trust's stock after buying an additional 2,980,051 shares during the quarter. Bamco Inc. NY owned approximately 1.88% of Macerich worth $93,135,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MAC. Quantbot Technologies LP purchased a new position in shares of Macerich in the 4th quarter valued at about $30,000. Blue Trust Inc. grew its holdings in Macerich by 68.8% in 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 shares of 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 valued at $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% during the 4th 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 approximately $99,000. Hedge funds and other institutional investors own 87.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MAC shares. JPMorgan Chase & Co. cut their price target on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a report on Monday, March 10th. Scotiabank cut their target price on shares of 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 decreased their price target on shares of Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research note on Monday, March 10th. Truist Financial upgraded Macerich from a "hold" rating to a "buy" rating and set a $19.00 price objective for the company in a research note on Thursday, April 10th. Finally, Morgan Stanley decreased their target price on Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. 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. According to MarketBeat.com, Macerich currently has a consensus rating of "Hold" and a consensus target price of $18.95.

Macerich Trading Up 0.5 %

Shares of NYSE MAC traded up $0.07 during trading on Wednesday, hitting $14.90. 2,099,671 shares of the company were exchanged, compared to its average volume of 1,946,151. The company has a fifty day moving average price of $15.75 and a 200-day moving average price of $18.57. The Macerich Company has a 12-month low of $12.48 and a 12-month 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 firm has a market capitalization of $3.76 billion, a PE ratio of 38.21, a P/E/G ratio of 0.71 and a beta of 2.13.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 4.56%. Macerich's dividend payout ratio (DPR) is -86.08%.

Macerich Company 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.