The Macerich Company (NYSE:MAC) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its holdings in shares of The Macerich Company (NYSE:MAC - Free Report) by 14.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 184,269 shares of the real estate investment trust's stock after purchasing an additional 22,924 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.07% of Macerich worth $3,671,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Macerich by 36.5% in the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock worth $87,000 after buying an additional 1,174 shares during the last quarter. Friedenthal Financial purchased a new stake in Macerich in the fourth quarter valued at approximately $771,000. Perpetual Ltd increased its position in Macerich by 24.3% during the fourth quarter. Perpetual Ltd now owns 55,356 shares of the real estate investment trust's stock worth $1,103,000 after purchasing an additional 10,830 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Macerich by 15.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,118 shares of the real estate investment trust's stock worth $1,098,000 after purchasing an additional 7,314 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of 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 purchasing an additional 1,064 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company's stock.

Macerich Stock Up 3.7 %

NYSE:MAC opened at $15.19 on Monday. The stock has a 50-day simple moving average of $15.98 and a 200 day simple moving average of $18.65. The Macerich Company has a one year low of $12.48 and a one year high of $22.27. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 38.95, a price-to-earnings-growth ratio of 0.71 and a beta of 2.13. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be given 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 of this dividend is Tuesday, June 3rd. Macerich's dividend payout ratio is currently -86.08%.

Analysts Set New Price Targets

Several research analysts recently weighed in on MAC shares. Truist Financial raised Macerich from a "hold" rating to a "buy" rating and set a $19.00 target price on the stock in a research report on Thursday, April 10th. The Goldman Sachs Group reduced their price objective on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research note on Monday, March 10th. Piper Sandler reduced their price target on Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research report on Monday, March 10th. Finally, Morgan Stanley decreased their target price on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $18.95.

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.

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