The Macerich Company (NYSE:MAC) Holdings Boosted by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of The Macerich Company (NYSE:MAC - Free Report) by 13.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,810 shares of the real estate investment trust's stock after purchasing an additional 16,182 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.05% of Macerich worth $2,685,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new stake in shares of Macerich during the fourth quarter worth $30,000. Lazard Asset Management LLC bought a new stake in shares of Macerich during the 4th quarter valued at about $45,000. Blue Trust Inc. raised its stake in Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock worth $48,000 after acquiring an additional 1,064 shares during the period. Smartleaf Asset Management LLC lifted 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 worth $69,000 after acquiring an additional 2,630 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Macerich in the fourth quarter valued at approximately $99,000. Institutional investors and hedge funds own 87.38% of the company's stock.

Analyst Ratings Changes

MAC has been the subject of several recent research reports. Truist Financial raised Macerich from a "hold" rating to a "buy" rating and set a $19.00 target price for the company in a report on Thursday, April 10th. The Goldman Sachs Group lowered their price objective on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday, March 10th. Morgan Stanley dropped 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. Piper Sandler raised shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price target for the company in a report on Thursday. Finally, Scotiabank lowered their price target on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $18.95.

Macerich Price Performance

Macerich stock traded down $0.34 during trading hours on Monday, hitting $14.89. 1,240,151 shares of the company traded hands, compared to its average volume of 1,925,604. The Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27. The firm has a market cap of $3.76 billion, a P/E ratio of 38.17, a P/E/G ratio of 0.71 and a beta of 2.13. The firm's 50-day simple moving average is $15.35 and its two-hundred day simple moving average is $18.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich (NYSE:MAC - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The business had revenue of $249.22 million for the quarter, compared to analyst estimates of $221.61 million. During the same quarter last year, the business earned $0.33 earnings per share. The business's revenue for the quarter was up 19.3% on a year-over-year basis. As a group, analysts forecast that The Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date is Tuesday, June 3rd. Macerich's dividend payout ratio is presently -158.14%.

About Macerich

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.