Bamco Inc. NY grew its holdings in shares of The Macerich Company (NYSE:MAC - Free Report) by 175.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,675,471 shares of the real estate investment trust's stock after acquiring an additional 2,980,051 shares during the period. Bamco Inc. NY owned about 1.88% of Macerich worth $93,135,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of MAC. Quantbot Technologies LP purchased a new stake in Macerich during the 4th quarter worth approximately $30,000. Blue Trust Inc. increased its stake in shares of Macerich by 68.8% in the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock worth $48,000 after buying an additional 1,064 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in 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 acquiring an additional 2,630 shares in the last quarter. GAMMA Investing LLC boosted its stake in Macerich by 36.5% during the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock valued at $87,000 after acquiring an additional 1,174 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Macerich during the 4th quarter worth $99,000. 87.38% of the stock is owned by hedge funds and other institutional investors.
Macerich Stock Performance
Shares of MAC traded down $0.03 during trading hours on Friday, reaching $15.03. 733,278 shares of the company's stock traded hands, compared to its average volume of 2,177,069. The Macerich Company has a twelve month low of $12.48 and a twelve month high of $22.27. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 38.54, a P/E/G ratio of 0.71 and a beta of 2.13. The business's fifty day simple moving average is $15.68 and its two-hundred day simple moving average is $18.55. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.
Macerich Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 4.52%. Macerich's dividend payout ratio (DPR) is -86.08%.
Wall Street Analyst Weigh In
MAC has been the topic of a number of recent analyst reports. Piper Sandler cut their target price on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group lowered their price target on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a report on Monday, March 10th. Morgan Stanley reduced their price objective on Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lowered their target price on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research note on Monday, March 10th. Finally, Scotiabank decreased their price target on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $18.95.
Get Our Latest Analysis on MAC
About Macerich
(
Free Report)
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.
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