The Macerich Company (NYSE:MAC) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in The Macerich Company (NYSE:MAC - Free Report) by 4.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,619,222 shares of the real estate investment trust's stock after purchasing an additional 72,849 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.65% of Macerich worth $32,255,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Woodline Partners LP acquired a new stake in shares of Macerich during the 4th quarter worth about $16,778,000. State of Wyoming purchased a new stake in Macerich during the fourth quarter worth about $55,000. Sandia Investment Management LP purchased a new stake in Macerich during the fourth quarter worth about $100,000. Raiffeisen Bank International AG purchased a new stake in Macerich during the fourth quarter worth about $83,000. Finally, ProShare Advisors LLC increased its stake in Macerich by 58.3% during the fourth quarter. ProShare Advisors LLC now owns 71,524 shares of the real estate investment trust's stock worth $1,425,000 after purchasing an additional 26,334 shares during the period. Hedge funds and other institutional investors own 87.38% of the company's stock.

Wall Street Analyst Weigh In

MAC has been the topic of a number of recent research reports. 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 note on Thursday, May 22nd. The Goldman Sachs Group cut their price target on shares of Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research note on Monday, March 10th. JPMorgan Chase & Co. cut their price target 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. Morgan Stanley lowered their price objective on Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. Finally, 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. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Macerich presently has a consensus rating of "Hold" and a consensus price target of $18.95.

Macerich Stock Performance

MAC stock traded up $0.48 on Thursday, hitting $16.26. The company's stock had a trading volume of 2,955,858 shares, compared to its average volume of 1,931,551. The firm has a 50 day moving average of $15.28 and a two-hundred day moving average of $18.25. The Macerich Company has a 1 year low of $12.48 and a 1 year high of $22.27. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 41.68, a price-to-earnings-growth ratio of 0.71 and a beta of 2.13. 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 (NYSE:MAC - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $0.33 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $221.61 million. During the same quarter in the prior year, the firm earned $0.33 EPS. Macerich's revenue for the quarter was up 19.3% on a year-over-year basis. Equities analysts predict that The Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 4.18%. Macerich's dividend payout ratio (DPR) is -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.