The Macerich Company (NYSE:MAC) Shares Acquired by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its holdings in shares of The Macerich Company (NYSE:MAC) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,280,658 shares of the real estate investment trust’s stock after purchasing an additional 249,592 shares during the period. Ameriprise Financial Inc.’s holdings in Macerich were worth $65,351,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MAC. Quantbot Technologies LP acquired a new stake in shares of Macerich during the fourth quarter worth about $30,000. Blue Trust Inc. lifted its position in Macerich by 68.8% during the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 1,064 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Macerich by 314.2% in 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 purchasing an additional 2,630 shares during the period. GAMMA Investing LLC raised its stake in shares of Macerich by 36.5% during the fourth 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 last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Macerich during the fourth quarter worth $99,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. 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 report on Thursday, April 10th. Morgan Stanley lowered their price objective on Macerich from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Scotiabank cut their target price on Macerich from $21.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price target on Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a research note on Monday, March 10th. Finally, The Goldman Sachs Group cut their price objective on Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a research report on Monday, March 10th. Four 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. Based on data from MarketBeat.com, Macerich presently has an average rating of “Hold” and a consensus target price of $18.95.

Macerich Price Performance

Shares of NYSE MAC opened at $14.96 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The company’s 50-day moving average price is $15.63 and its 200 day moving average price is $18.52. The Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 0.71 and a beta of 2.13.

Macerich Dividend Announcement

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

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.