Alliancebernstein L.P. Sells 267,998 Shares of The Macerich Company (NYSE:MAC)

Alliancebernstein L.P. trimmed its position in The Macerich Company (NYSE:MAC - Free Report) by 46.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,079 shares of the real estate investment trust's stock after selling 267,998 shares during the period. Alliancebernstein L.P. owned approximately 0.12% of Macerich worth $6,057,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of 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 valued at $769,260,000 after buying an additional 4,503,509 shares during the last quarter. Wellington Management Group LLP lifted its position in Macerich by 845.9% in the 4th quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust's stock valued at $200,222,000 after acquiring an additional 8,988,665 shares in the last quarter. Geode Capital Management LLC increased its holdings in Macerich by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust's stock worth $99,004,000 after purchasing an additional 34,982 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Macerich by 7.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,171,300 shares of the real estate investment trust's stock worth $103,012,000 after purchasing an additional 369,931 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Macerich by 77.7% in 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 purchasing an additional 1,667,066 shares during the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Stock Performance

NYSE:MAC traded up $0.42 during trading hours on Friday, reaching $14.66. The stock had a trading volume of 1,608,972 shares, compared to its average volume of 1,983,364. The stock has a market cap of $3.70 billion, a P/E ratio of 37.58, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17. The stock has a 50 day simple moving average of $17.12 and a 200 day simple moving average of $18.88. 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 Macerich Company has a 12-month low of $12.48 and a 12-month high of $22.27.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date was Tuesday, March 4th. Macerich's dividend payout ratio is currently -86.08%.

Wall Street Analysts Forecast Growth

MAC has been the subject of several recent research reports. Scotiabank decreased their price target on Macerich from $22.00 to $21.00 and set a "sector perform" rating for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. reduced their target price on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research note on Monday, March 10th. Jefferies Financial Group raised shares of Macerich from a "hold" rating to a "buy" rating and raised their price target for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. 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. Finally, Morgan Stanley decreased their price objective 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 research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $19.37.

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.