Fairtree Asset Management Pty Ltd Buys Shares of 25,861 The Macerich Company (NYSE:MAC)

Fairtree Asset Management Pty Ltd bought a new position in The Macerich Company (NYSE:MAC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 25,861 shares of the real estate investment trust's stock, valued at approximately $515,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC boosted its stake in Macerich by 87.3% in the 4th quarter. FMR LLC now owns 22,047,786 shares of the real estate investment trust's stock worth $439,192,000 after purchasing 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 fourth quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust's stock worth $200,222,000 after buying an additional 8,988,665 shares during the period. Vanguard Group Inc. boosted its position in shares of Macerich by 13.2% in the fourth quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust's stock worth $769,260,000 after buying an additional 4,503,509 shares during the period. Bamco Inc. NY grew its holdings in shares of Macerich by 175.8% during the fourth quarter. Bamco Inc. NY now owns 4,675,471 shares of the real estate investment trust's stock valued at $93,135,000 after buying an additional 2,980,051 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in Macerich by 463.6% during the fourth quarter. Prudential Financial Inc. now owns 2,590,689 shares of the real estate investment trust's stock valued at $51,607,000 after buying an additional 2,131,030 shares during the period. 87.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research note on Monday, March 10th. Scotiabank lowered their price objective on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley dropped their price objective on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. Piper Sandler raised shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 target price for the company in a research note on Thursday, May 22nd. Finally, 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 note on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Macerich currently has an average rating of "Hold" and an average price target of $18.95.

Macerich Stock Up 0.2%

NYSE:MAC traded up $0.04 during trading hours on Friday, reaching $16.23. The company's stock had a trading volume of 3,216,787 shares, compared to its average volume of 1,942,632. 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 company has a market cap of $4.10 billion, a price-to-earnings ratio of 41.62, a price-to-earnings-growth ratio of 0.71 and a beta of 2.13. The Macerich Company has a one year low of $12.48 and a one year high of $22.27. The business's 50-day moving average is $15.22 and its 200-day moving average is $18.20.

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

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Tuesday, June 3rd. Macerich's dividend payout ratio is currently -158.14%.

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.