GRS Advisors LLC Invests $23.10 Million in The Macerich Company (NYSE:MAC)

GRS Advisors LLC purchased a new position in shares of The Macerich Company (NYSE:MAC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,159,504 shares of the real estate investment trust's stock, valued at approximately $23,097,000. Macerich makes up 2.3% of GRS Advisors LLC's portfolio, making the stock its 21st biggest holding. GRS Advisors LLC owned about 0.47% of Macerich at the end of the most recent quarter.

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

Analysts Set New Price Targets

MAC has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective 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. Scotiabank dropped 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. Piper Sandler dropped their price objective on Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a report on Friday, February 28th. Truist Financial upgraded shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 target price on the stock in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a report on Monday, March 10th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $18.95.

Macerich Price Performance

MAC stock opened at $14.96 on Friday. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 38.36, a price-to-earnings-growth ratio of 0.71 and a beta of 2.13. The stock's fifty day simple moving average is $15.63 and its 200-day simple moving average is $18.52. The Macerich Company has a 52-week low of $12.48 and a 52-week high of $22.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 4.55%. Macerich's payout ratio is currently -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.

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