Wellington Management Group LLP Sells 2,421,824 Shares of The Macerich Company (NYSE:MAC)

Wellington Management Group LLP decreased its position in The Macerich Company (NYSE:MAC) by 69.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,062,621 shares of the real estate investment trust’s stock after selling 2,421,824 shares during the period. Wellington Management Group LLP owned approximately 0.47% of Macerich worth $19,382,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Quest Partners LLC raised its holdings in shares of Macerich by 851.9% in the 3rd quarter. Quest Partners LLC now owns 30,529 shares of the real estate investment trust’s stock worth $557,000 after acquiring an additional 27,322 shares during the last quarter. Citigroup Inc. increased its stake in shares of Macerich by 32.3% during the 3rd quarter. Citigroup Inc. now owns 359,069 shares of the real estate investment trust’s stock worth $6,549,000 after purchasing an additional 87,611 shares during the last quarter. Bamco Inc. NY boosted its holdings in Macerich by 742.3% in the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock worth $30,924,000 after buying an additional 1,494,145 shares during the period. Sei Investments Co. bought a new position in Macerich in the 2nd quarter worth approximately $10,625,000. Finally, Smead Capital Management Inc. boosted its holdings in Macerich by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock valued at $372,706,000 after purchasing an additional 688,790 shares during the period. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Trading Up 2.4 %

NYSE MAC opened at $21.50 on Friday. The Macerich Company has a one year low of $12.99 and a one year high of $22.27. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 55.12, a price-to-earnings-growth ratio of 0.74 and a beta of 2.51. 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 company’s 50-day simple moving average is $19.52 and its two-hundred day simple moving average is $16.97.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.90). The business had revenue of $220.20 million for the quarter, compared to analyst estimates of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Equities analysts forecast that The Macerich Company will post 1.56 EPS for the current fiscal year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.16%. The ex-dividend date was Tuesday, November 12th. Macerich’s payout ratio is presently 174.36%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MAC. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. Compass Point lifted their target price on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Bank of America boosted their price objective on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Piper Sandler boosted their price target on shares of Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a research report on Wednesday. Finally, Evercore ISI boosted their price objective on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.62.

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.