Northern Trust Corp Purchases 1,522,147 Shares of The Macerich Company (NYSE:MAC)

Northern Trust Corp boosted its position in The Macerich Company (NYSE:MAC - Free Report) by 56.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,205,890 shares of the real estate investment trust's stock after purchasing an additional 1,522,147 shares during the period. Northern Trust Corp owned 1.69% of Macerich worth $83,781,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of Macerich in the fourth quarter valued at approximately $30,000. Blue Trust Inc. increased its position in Macerich by 68.8% in the 4th 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 increased its position in Macerich by 314.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock valued at $69,000 after acquiring an additional 2,630 shares during the period. GAMMA Investing LLC raised its stake in shares of Macerich by 36.5% during the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock valued at $87,000 after acquiring an additional 1,174 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Macerich during the fourth quarter worth $99,000. 87.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Scotiabank lowered their target price 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. Morgan Stanley lowered their price objective 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. The Goldman Sachs Group reduced their target price on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a report on Monday, March 10th. Truist Financial upgraded shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 price target for the company in a report on Thursday, April 10th. Finally, Piper Sandler reduced their price objective on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, February 28th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $18.95.

Macerich Stock Down 0.7 %

Shares of Macerich stock traded down $0.10 during trading on Friday, reaching $14.96. 1,449,901 shares of the company traded hands, compared to its average volume of 1,926,720. The firm has a market capitalization of $3.78 billion, a PE ratio of 38.36, a P/E/G ratio of 0.71 and a beta of 2.13. The Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27. The company has a 50 day moving average price of $15.63 and a 200-day moving average price of $18.53. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

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 given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.55%. Macerich's dividend payout ratio (DPR) is presently -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.