FIL Ltd Acquires 51,994 Shares of The Macerich Company (NYSE:MAC)

FIL Ltd raised its stake in The Macerich Company (NYSE:MAC - Free Report) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,158,518 shares of the real estate investment trust's stock after acquiring an additional 51,994 shares during the period. FIL Ltd owned about 0.47% of Macerich worth $23,078,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP bought a new position in shares of Macerich in the 3rd quarter valued at about $256,000. XTX Topco Ltd acquired a new stake in shares of Macerich during the third quarter worth $816,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Macerich during the third quarter worth about $1,131,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Macerich by 0.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust's stock worth $5,029,000 after acquiring an additional 700 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Macerich by 0.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 314,000 shares of the real estate investment trust's stock valued at $5,727,000 after buying an additional 2,322 shares during the last quarter. 87.38% of the stock is owned by institutional investors.

Macerich Price Performance

Shares of NYSE:MAC traded up $0.20 during trading on Wednesday, reaching $14.45. The company had a trading volume of 377,399 shares, compared to its average volume of 1,976,029. The Macerich Company has a 12 month low of $12.48 and a 12 month high of $22.27. The company has a fifty day moving average of $17.49 and a two-hundred day moving average of $18.96. The stock has a market capitalization of $3.65 billion, a P/E ratio of 37.05, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date was Tuesday, March 4th. Macerich's payout ratio is presently -86.08%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MAC shares. The Goldman Sachs Group cut 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. Piper Sandler lowered their price target on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a report on Friday, February 28th. Scotiabank decreased their price target on shares of Macerich from $22.00 to $21.00 and set a "sector perform" rating for the company in a research report on Thursday, March 6th. JPMorgan Chase & Co. reduced their price objective on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research note on Monday, March 10th. Finally, Truist Financial raised Macerich from a "hold" rating to a "buy" rating and set a $19.00 target price for the company in a research report on Thursday, April 10th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Macerich presently has a consensus rating of "Hold" and a consensus target price of $19.37.

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.