Fmr LLC Increases Holdings in The Macerich Company (NYSE:MAC)

Fmr LLC lifted its position in shares of The Macerich Company (NYSE:MAC) by 87.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,047,786 shares of the real estate investment trust’s stock after buying an additional 10,274,895 shares during the period. Fmr LLC owned about 8.87% of Macerich worth $439,192,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in Macerich in the 4th quarter worth approximately $30,000. Blue Trust Inc. increased its stake in Macerich by 68.8% in the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,064 shares during the period. Smartleaf Asset Management LLC increased its stake in Macerich by 314.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 2,630 shares during the period. GAMMA Investing LLC increased 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 purchasing an additional 1,174 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Macerich in the 4th quarter worth approximately $99,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Stock Up 12.8 %

Macerich stock opened at $14.93 on Thursday. The stock has a market cap of $3.77 billion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17. 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 one year low of $12.48 and a one year high of $22.27. The stock has a fifty day moving average of $18.00 and a 200 day moving average of $19.05.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date was Tuesday, March 4th. Macerich’s payout ratio is -86.08%.

Analysts Set New Price Targets

MAC has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Macerich in a research report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a research report on Monday, March 10th. Morgan Stanley dropped their price target on Macerich from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. Piper Sandler dropped 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. Finally, Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and lifted their price target for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average 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.