MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stock Position in The Macerich Company (NYSE:MAC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in The Macerich Company (NYSE:MAC - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134,810 shares of the real estate investment trust's stock after acquiring an additional 16,182 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.05% of Macerich worth $2,685,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lazard Asset Management LLC purchased a new position in Macerich in the 4th quarter worth $45,000. GRS Advisors LLC purchased a new position in shares of Macerich in the fourth quarter worth about $23,097,000. Gotham Asset Management LLC raised its stake in shares of Macerich by 8.4% in the fourth quarter. Gotham Asset Management LLC now owns 12,830 shares of the real estate investment trust's stock worth $256,000 after purchasing an additional 997 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Macerich by 63.8% during the fourth quarter. Deutsche Bank AG now owns 926,459 shares of the real estate investment trust's stock worth $18,455,000 after purchasing an additional 360,966 shares during the period. Finally, Bamco Inc. NY boosted its position in Macerich by 175.8% in 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 during the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Scotiabank reduced 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. Piper Sandler decreased their price objective on Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a report on Friday, February 28th. Truist Financial raised Macerich from a "hold" rating to a "buy" rating and set a $19.00 target price on the stock in a report on Thursday, April 10th. The Goldman Sachs Group cut their target price on shares of Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a report on Monday, March 10th. Finally, Morgan Stanley dropped their price target on shares of 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 assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $18.95.

Macerich Trading Down 0.9%

Shares of Macerich stock opened at $15.72 on Wednesday. The Macerich Company has a twelve month low of $12.48 and a twelve month high of $22.27. The firm's 50-day moving average price is $15.50 and its 200 day moving average price is $18.40. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $3.97 billion, a PE ratio of 40.31, a P/E/G ratio of 0.71 and a beta of 2.13.

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

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date is Tuesday, June 3rd. Macerich's payout ratio is -158.14%.

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.

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