Dimensional Fund Advisors LP Has $62.35 Million Stock Holdings in The Macerich Company (NYSE:MAC)

Dimensional Fund Advisors LP lowered its stake in The Macerich Company (NYSE:MAC - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,129,747 shares of the real estate investment trust's stock after selling 62,714 shares during the period. Dimensional Fund Advisors LP owned approximately 1.26% of Macerich worth $62,346,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in shares of Macerich by 36.5% in the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock valued at $87,000 after purchasing an additional 1,174 shares during the last quarter. Friedenthal Financial acquired a new position in Macerich in the 4th quarter valued at $771,000. Perpetual Ltd increased its position in Macerich by 24.3% during the 4th quarter. Perpetual Ltd now owns 55,356 shares of the real estate investment trust's stock worth $1,103,000 after buying an additional 10,830 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Macerich by 15.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,118 shares of the real estate investment trust's stock worth $1,098,000 after buying an additional 7,314 shares in the last quarter. Finally, Blue Trust Inc. boosted its position 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 valued at $48,000 after acquiring an additional 1,064 shares during the period. 87.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MAC. Truist Financial raised shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 price target on the stock in a research report on Thursday, April 10th. Piper Sandler cut their price target on Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group lowered their price objective on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research note on Monday, March 10th. JPMorgan Chase & Co. cut their target price on Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research report on Monday, March 10th. Finally, Morgan Stanley decreased their price target 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 analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Macerich has an average rating of "Hold" and a consensus target price of $18.95.

Macerich Price Performance

Shares of NYSE MAC traded up $0.07 during midday trading on Wednesday, reaching $14.90. 2,099,671 shares of the company were exchanged, compared to its average volume of 1,946,152. The stock's 50-day moving average price is $15.75 and its 200-day moving average price is $18.57. The stock has a market cap of $3.76 billion, a P/E ratio of 38.21, a PEG ratio of 0.71 and a beta of 2.13. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a one year low of $12.48 and a one year high of $22.27.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date is Tuesday, June 3rd. Macerich's 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.