First Trust Advisors LP Increases Stock Holdings in 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% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,221 shares of the real estate investment trust's stock after acquiring an additional 18,332 shares during the period. First Trust Advisors LP owned about 0.07% of Macerich worth $3,630,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

MAC has been the topic of several research analyst reports. Scotiabank cut their target price on Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Truist Financial raised shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 price objective on the stock in a report on Thursday, April 10th. Piper Sandler dropped their target price on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group reduced their price target on shares of Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a report on Monday, March 10th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $18.95.

Macerich Stock Performance

Shares of Macerich stock traded down $0.22 during trading hours on Monday, hitting $14.97. 1,107,895 shares of the company were exchanged, compared to its average volume of 1,958,377. The business has a 50-day moving average of $15.88 and a 200-day moving average of $18.62. The Macerich Company has a 1 year low of $12.48 and a 1 year high of $22.27. 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 stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 38.39, a P/E/G ratio of 0.71 and a beta of 2.13.

Macerich Announces Dividend

The company 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 $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Tuesday, June 3rd. Macerich's payout ratio is -86.08%.

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.