Hsbc Holdings PLC boosted its stake in The Macerich Company (NYSE:MAC - Free Report) by 19.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,382 shares of the real estate investment trust's stock after purchasing an additional 32,860 shares during the period. Hsbc Holdings PLC owned approximately 0.08% of Macerich worth $4,090,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC lifted its position in 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 acquiring an additional 10,274,895 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Macerich by 845.9% during the fourth quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust's stock worth $200,222,000 after acquiring an additional 8,988,665 shares during the last quarter. Vanguard Group Inc. grew its position 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 worth $769,260,000 after purchasing an additional 4,503,509 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Macerich by 463.6% during the fourth quarter. Prudential Financial Inc. now owns 2,590,689 shares of the real estate investment trust's stock worth $51,607,000 after buying an additional 2,131,030 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Macerich by 77.7% in the 4th quarter. JPMorgan Chase & Co. now owns 3,812,987 shares of the real estate investment trust's stock worth $75,955,000 after buying an additional 1,667,066 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company's stock.
Macerich Stock Performance
Shares of NYSE MAC traded up $0.01 during trading hours on Monday, reaching $15.20. The stock had a trading volume of 165,370 shares, compared to its average volume of 2,211,560. The Macerich Company has a twelve month low of $12.48 and a twelve month high of $22.27. 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 business's fifty day moving average is $15.98 and its two-hundred day moving average is $18.65. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 38.98, a PEG ratio of 0.71 and a beta of 2.13.
Macerich Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be given 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 4.47%. Macerich's dividend payout ratio (DPR) is presently -86.08%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective 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. Scotiabank decreased their price target on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group reduced their price objective on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday, March 10th. Morgan Stanley decreased their price target 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, Truist Financial upgraded shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 target price for the company in a report on Thursday, April 10th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $18.95.
Get Our Latest Analysis on MAC
Macerich Profile
(
Free Report)
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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