The Macerich Company (NYSE:MAC) Holdings Raised by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. boosted its stake in shares of The Macerich Company (NYSE:MAC - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,375,857 shares of the real estate investment trust's stock after purchasing an additional 61,017 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 1.76% of Macerich worth $87,168,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. FMR LLC raised its position in Macerich by 87.3% during the fourth 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 during the period. Wellington Management Group LLP raised its position in 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 period. Vanguard Group Inc. raised its position in Macerich by 13.2% during the fourth quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust's stock worth $769,260,000 after acquiring an additional 4,503,509 shares during the period. Prudential Financial Inc. raised its position in 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 acquiring an additional 2,131,030 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Macerich by 77.7% during the fourth quarter. JPMorgan Chase & Co. now owns 3,812,987 shares of the real estate investment trust's stock worth $75,955,000 after acquiring an additional 1,667,066 shares during the period. 87.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MAC has been the subject of a number of analyst reports. The Goldman Sachs Group dropped their price objective on shares of Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a report on Monday, March 10th. Piper Sandler reduced their price objective on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, February 28th. 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 research report on Thursday, April 10th. Scotiabank decreased their price target on Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Finally, 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 research note on Monday, March 10th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Macerich presently has a consensus rating of "Hold" and a consensus target price of $18.95.

Macerich Stock Performance

MAC stock traded up $0.14 during trading on Thursday, reaching $14.80. 572,810 shares of the company's stock were exchanged, compared to its average volume of 1,971,835. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27. The company's fifty day moving average price is $16.18 and its 200-day moving average price is $18.70. The firm has a market cap of $3.74 billion, a PE ratio of 37.97, a P/E/G ratio of 0.71 and a beta of 2.17.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 4.59%. Macerich's dividend payout ratio (DPR) is -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.