Nuveen Asset Management LLC Grows Position in The Macerich Company (NYSE:MAC)

Nuveen Asset Management LLC grew its position in The Macerich Company (NYSE:MAC - Free Report) by 36.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 854,072 shares of the real estate investment trust's stock after buying an additional 227,408 shares during the period. Nuveen Asset Management LLC owned approximately 0.34% of Macerich worth $17,013,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Macerich by 87.3% during the 4th quarter. FMR LLC now owns 22,047,786 shares of the real estate investment trust's stock worth $439,192,000 after buying an additional 10,274,895 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Macerich by 845.9% in the 4th quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust's stock valued at $200,222,000 after purchasing an additional 8,988,665 shares during the period. Vanguard Group Inc. raised its holdings in Macerich by 13.2% in the 4th quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust's stock valued at $769,260,000 after acquiring an additional 4,503,509 shares during the period. Bamco Inc. NY raised its holdings in Macerich by 175.8% in the 4th quarter. Bamco Inc. NY now owns 4,675,471 shares of the real estate investment trust's stock valued at $93,135,000 after acquiring an additional 2,980,051 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of Macerich by 463.6% during the 4th quarter. Prudential Financial Inc. now owns 2,590,689 shares of the real estate investment trust's stock worth $51,607,000 after purchasing an additional 2,131,030 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company's stock.

Macerich Stock Up 3.3%

Shares of Macerich stock traded up $0.52 during trading on Thursday, hitting $16.30. The company's stock had a trading volume of 665,476 shares, compared to its average volume of 2,135,818. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The company has a fifty day simple moving average of $15.28 and a two-hundred day simple moving average of $18.25. The company has a market capitalization of $4.12 billion, a PE ratio of 41.77, a P/E/G ratio of 0.71 and a beta of 2.13. The Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $0.33 EPS for the quarter, topping 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 firm had revenue of $249.22 million during the quarter, compared to analyst estimates of $221.61 million. During the same period in the previous year, the business posted $0.33 earnings per share. The business's revenue for the quarter was up 19.3% on a year-over-year basis. Equities research analysts predict that The Macerich Company will post 1.55 earnings per share for the current year.

Macerich Dividend Announcement

The firm 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 $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Tuesday, June 3rd. Macerich's payout ratio is -158.14%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MAC shares. Piper Sandler upgraded shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price target on the stock in a research report on Thursday, May 22nd. The Goldman Sachs Group dropped their price target on shares of Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday, March 10th. JPMorgan Chase & Co. lowered their target price on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research note on Monday, March 10th. Scotiabank decreased 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 note on Wednesday, April 23rd. Finally, Truist Financial raised shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 price target for the company in a research note on Thursday, April 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $18.95.

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.