Legal & General Group Plc Has $35.59 Million Stock Holdings in The Macerich Company (NYSE:MAC)

Legal & General Group Plc boosted its stake in The Macerich Company (NYSE:MAC - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,786,379 shares of the real estate investment trust's stock after buying an additional 19,555 shares during the period. Legal & General Group Plc owned approximately 0.72% of Macerich worth $35,585,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Friedenthal Financial bought a new stake in Macerich in the 4th quarter valued at $771,000. Smartleaf Asset Management LLC increased its position in 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 period. Van ECK Associates Corp boosted its holdings in Macerich by 20.4% in the 4th quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust's stock valued at $893,000 after purchasing an additional 7,608 shares during the period. New York State Teachers Retirement System increased its holdings in shares of Macerich by 2.2% during the fourth quarter. New York State Teachers Retirement System now owns 183,508 shares of the real estate investment trust's stock worth $3,655,000 after purchasing an additional 3,979 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Macerich by 7.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,162,987 shares of the real estate investment trust's stock valued at $43,087,000 after buying an additional 142,566 shares during the period. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Trading Up 2.9 %

Shares of NYSE MAC traded up $0.42 during midday trading on Friday, reaching $14.66. The stock had a trading volume of 1,608,972 shares, compared to its average volume of 1,982,155. 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 quick ratio of 0.92 and a current ratio of 0.92. The company's 50 day moving average price is $17.25 and its 200 day moving average price is $18.90. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 37.58, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date was Tuesday, March 4th. Macerich's dividend payout ratio is -86.08%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a report on Monday, March 10th. Piper Sandler cut their price target on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a report on Friday, February 28th. Jefferies Financial Group upgraded shares of Macerich from a "hold" rating to a "buy" rating and boosted their price objective for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Morgan Stanley decreased their price target on Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. Finally, The Goldman Sachs Group decreased their target price on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research report on Monday, March 10th. Four 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. According to data from MarketBeat.com, Macerich has an average rating of "Hold" and an average target price of $19.37.

Macerich Company 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.