Price T Rowe Associates Inc. MD Raises Holdings in The Macerich Company (NYSE:MAC)

Price T Rowe Associates Inc. MD lifted its holdings in shares of The Macerich Company (NYSE:MAC - Free Report) by 14.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 184,269 shares of the real estate investment trust's stock after acquiring an additional 22,924 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.07% of Macerich worth $3,671,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Hsbc Holdings PLC grew its position in Macerich by 19.0% during the 4th quarter. Hsbc Holdings PLC now owns 205,382 shares of the real estate investment trust's stock worth $4,090,000 after purchasing an additional 32,860 shares during the last quarter. State of Tennessee Department of Treasury lifted its stake in shares of Macerich by 1.7% during the fourth quarter. State of Tennessee Department of Treasury now owns 102,801 shares of the real estate investment trust's stock worth $2,048,000 after buying an additional 1,715 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Macerich by 64.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,155 shares of the real estate investment trust's stock valued at $222,000 after buying an additional 4,389 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Macerich by 216.4% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 221,153 shares of the real estate investment trust's stock valued at $4,405,000 after acquiring an additional 151,253 shares during the period. Finally, MetLife Investment Management LLC raised its stake in Macerich by 17.6% in the 4th quarter. MetLife Investment Management LLC now owns 150,001 shares of the real estate investment trust's stock worth $2,988,000 after acquiring an additional 22,500 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company's stock.

Macerich Price Performance

Shares of NYSE MAC traded down $0.10 during mid-day trading on Friday, reaching $14.96. The company's stock had a trading volume of 1,449,901 shares, compared to its average volume of 1,926,720. The Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27. The stock has a market capitalization of $3.78 billion, a P/E ratio of 38.36, a P/E/G 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. The stock has a 50-day moving average of $15.63 and a two-hundred day moving average of $18.53.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Tuesday, June 3rd. Macerich's dividend payout ratio (DPR) is currently -86.08%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MAC shares. Scotiabank dropped 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. Truist Financial upgraded shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 price objective for the company in a research note on Thursday, April 10th. The Goldman Sachs Group reduced their target price 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. Morgan Stanley lowered their price target on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. Finally, Piper Sandler decreased their price objective on Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a report on Friday, February 28th. Four 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's stock. According to MarketBeat.com, Macerich presently has an average rating of "Hold" and a consensus target price of $18.95.

Macerich 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.