MetLife Investment Management LLC raised its stake in shares of The Macerich Company (NYSE:MAC - Free Report) by 17.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,001 shares of the real estate investment trust's stock after buying an additional 22,500 shares during the quarter. MetLife Investment Management LLC owned about 0.06% of Macerich worth $2,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Macerich during the 4th quarter valued at $30,000. Blue Trust Inc. lifted its position in shares of Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 1,064 shares during the last quarter. Smartleaf Asset Management LLC grew its stake 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 buying an additional 2,630 shares during the last quarter. GAMMA Investing LLC increased its stake in Macerich by 36.5% during 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 acquired a new stake in shares of Macerich during the fourth quarter worth about $99,000. 87.38% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on MAC. The Goldman Sachs Group decreased their price target on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a report on Monday, March 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. Jefferies Financial Group upgraded shares of Macerich from a "hold" rating to a "buy" rating and lifted their target price for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Truist Financial raised shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 price target on the stock in a research note on Thursday, April 10th. Finally, Morgan Stanley lowered their target price on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. Four analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $18.95.
Read Our Latest Analysis on Macerich
Macerich Stock Performance
NYSE:MAC traded up $0.53 during trading hours on Friday, reaching $15.18. 414,681 shares of the company's stock were exchanged, compared to its average volume of 1,960,613. The Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 38.85, a P/E/G ratio of 0.71 and a beta of 2.17. The company has a 50-day moving average of $16.08 and a 200 day moving average of $18.67. 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 declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Tuesday, June 3rd. Macerich's dividend payout ratio is presently -86.08%.
About Macerich
(
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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