Fisher Asset Management LLC Has $46.45 Million Position in The Macerich Company (NYSE:MAC)

Fisher Asset Management LLC lowered its position in The Macerich Company (NYSE:MAC - Free Report) by 19.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,010,641 shares of the real estate investment trust's stock after selling 707,330 shares during the period. Fisher Asset Management LLC owned 1.40% of Macerich worth $46,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MAC. Y.D. More Investments Ltd raised its holdings in shares of Macerich by 0.9% in the fourth quarter. Y.D. More Investments Ltd now owns 81,330 shares of the real estate investment trust's stock valued at $1,255,000 after buying an additional 745 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Macerich by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 30,293 shares of the real estate investment trust's stock worth $467,000 after acquiring an additional 4,981 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Macerich by 49.8% during the fourth quarter. Russell Investments Group Ltd. now owns 60,094 shares of the real estate investment trust's stock worth $930,000 after purchasing an additional 19,969 shares in the last quarter. Bailard Inc. bought a new stake in shares of Macerich during the fourth quarter valued at approximately $159,000. Finally, Wolverine Asset Management LLC increased its holdings in shares of Macerich by 48.3% in the fourth quarter. Wolverine Asset Management LLC now owns 19,424 shares of the real estate investment trust's stock valued at $300,000 after purchasing an additional 6,327 shares in the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, President Edward C. Coppola sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total transaction of $860,000.00. Following the completion of the sale, the president now directly owns 655,667 shares of the company's stock, valued at approximately $11,277,472.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, President Edward C. Coppola sold 50,000 shares of the company's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total value of $860,000.00. Following the completion of the transaction, the president now directly owns 655,667 shares of the company's stock, valued at approximately $11,277,472.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Hern Thomas E. O sold 7,964 shares of Macerich stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $16.39, for a total value of $130,529.96. Following the completion of the sale, the director now directly owns 197,900 shares in the company, valued at approximately $3,243,581. The disclosure for this sale can be found here. Insiders have sold 172,964 shares of company stock worth $2,940,030 in the last 90 days. Corporate insiders own 0.53% of the company's stock.

Macerich Trading Up 3.6 %

NYSE MAC traded up $0.49 during trading on Friday, reaching $14.29. 2,275,431 shares of the stock traded hands, compared to its average volume of 1,996,452. The stock's 50-day moving average price is $16.05 and its 200 day moving average price is $14.67. The company has a quick ratio of 0.95, a current ratio of 1.03 and a debt-to-equity ratio of 1.85. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of -9.16, a price-to-earnings-growth ratio of 1.58 and a beta of 2.38. The Macerich Company has a fifty-two week low of $9.05 and a fifty-two week high of $17.69.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.26). The firm had revenue of $238.70 million during the quarter, compared to analyst estimates of $224.49 million. Macerich had a negative net margin of 38.96% and a negative return on equity of 13.42%. Macerich's quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS. Analysts predict that The Macerich Company will post 1.77 EPS for the current year.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.76%. The ex-dividend date is Friday, May 17th. Macerich's dividend payout ratio (DPR) is presently -43.59%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MAC shares. Citigroup raised Macerich from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $8.00 to $17.00 in a report on Friday, March 22nd. Truist Financial reiterated a "hold" rating and issued a $16.00 price target on shares of Macerich in a report on Monday, March 25th. Compass Point dropped their price objective on Macerich from $20.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday. Mizuho reduced their target price on shares of Macerich from $17.00 to $14.00 and set an "underperform" rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group boosted their price target on shares of Macerich from $9.00 to $13.00 and gave the stock a "sell" rating in a research note on Thursday, January 11th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $14.83.

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.