Wellington Management Group LLP Boosts Position in The Macerich Company (NYSE:MAC)

Wellington Management Group LLP raised its stake in shares of The Macerich Company (NYSE:MAC - Free Report) by 845.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 10,051,286 shares of the real estate investment trust's stock after purchasing an additional 8,988,665 shares during the period. Wellington Management Group LLP owned 3.98% of Macerich worth $200,222,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quantbot Technologies LP bought a new stake in shares of Macerich during the 4th quarter valued at $30,000. Blue Trust Inc. raised its holdings in Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock valued at $48,000 after acquiring an additional 1,064 shares during the period. Smartleaf Asset Management LLC raised its holdings in Macerich by 314.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock valued at $69,000 after acquiring an additional 2,630 shares during the period. GAMMA Investing LLC lifted its position in shares of Macerich by 36.5% in the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock valued at $87,000 after acquiring an additional 1,174 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Macerich in the fourth quarter worth about $99,000. Hedge funds and other institutional investors own 87.38% of the company's stock.

Macerich Trading Down 3.2 %

Shares of MAC stock traded down $0.47 during trading hours on Monday, reaching $14.06. 3,373,388 shares of the stock were exchanged, compared to its average volume of 1,942,704. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 36.04, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17. The Macerich Company has a 12-month low of $12.99 and a 12-month high of $22.27. The company's 50-day moving average price is $18.53 and its 200-day moving average price is $19.17. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.84%. Macerich's dividend payout ratio is -86.08%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. JPMorgan Chase & Co. lowered their price target on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a report on Monday, March 10th. Truist Financial dropped their target price on shares of Macerich from $23.00 to $19.00 and set a "hold" rating for the company in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Macerich in a research note on Tuesday, December 17th. They set a "hold" rating and a $22.00 target price for the company. Morgan Stanley decreased their price target on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. Finally, Piper Sandler cut their price objective on Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, February 28th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.37.

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.