First Trust Advisors LP Buys 18,332 Shares of The Macerich Company (NYSE:MAC)

First Trust Advisors LP increased its position in shares of The Macerich Company (NYSE:MAC - Free Report) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 182,221 shares of the real estate investment trust's stock after buying an additional 18,332 shares during the quarter. First Trust Advisors LP owned 0.07% of Macerich worth $3,630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of Macerich in the fourth quarter worth $30,000. Blue Trust Inc. lifted its position in Macerich by 68.8% during the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock worth $48,000 after buying an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Macerich by 314.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock valued at $69,000 after acquiring an additional 2,630 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Macerich by 36.5% in the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock valued at $87,000 after acquiring an additional 1,174 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Macerich during the fourth quarter worth about $99,000. Institutional investors and hedge funds own 87.38% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on MAC shares. Piper Sandler lowered their price target on Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research report on Monday, March 10th. Truist Financial raised shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 price objective for the company in a research report on Thursday, April 10th. Scotiabank cut their price objective on Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Finally, Morgan Stanley lowered 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 equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Macerich has a consensus rating of "Hold" and an average price target of $18.95.

Macerich Price Performance

Shares of NYSE MAC traded down $0.01 during mid-day trading on Thursday, hitting $14.87. 84,689 shares of the stock traded hands, compared to its average volume of 1,938,778. The Macerich Company has a twelve month low of $12.48 and a twelve month high of $22.27. The firm has a 50 day simple moving average of $15.75 and a two-hundred day simple moving average of $18.57. 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 $3.76 billion, a PE ratio of 38.13, a price-to-earnings-growth ratio of 0.71 and a beta of 2.13.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Tuesday, June 3rd. Macerich's dividend payout ratio (DPR) is currently -86.08%.

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.