1,227,366 Shares in The Macerich Company (NYSE:MAC) Acquired by Wellington Management Group LLP

Wellington Management Group LLP bought a new position in shares of The Macerich Company (NYSE:MAC) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,227,366 shares of the real estate investment trust’s stock, valued at approximately $18,938,000. Wellington Management Group LLP owned 0.57% of Macerich as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Macerich by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,654,465 shares of the real estate investment trust’s stock worth $71,818,000 after buying an additional 165,649 shares during the last quarter. Kennedy Capital Management LLC raised its stake in Macerich by 0.9% during the 3rd quarter. Kennedy Capital Management LLC now owns 1,540,033 shares of the real estate investment trust’s stock valued at $16,802,000 after purchasing an additional 14,131 shares during the last quarter. Norges Bank bought a new stake in Macerich in the 4th quarter valued at $22,210,000. AQR Capital Management LLC grew its position in Macerich by 1.5% in the 3rd quarter. AQR Capital Management LLC now owns 1,213,677 shares of the real estate investment trust’s stock worth $13,241,000 after purchasing an additional 18,325 shares during the last quarter. Finally, Waterfront Capital Partners LLC bought a new position in shares of Macerich during the 4th quarter worth about $14,609,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Down 1.8 %

Shares of NYSE:MAC opened at $14.61 on Wednesday. The company’s fifty day moving average is $15.09 and its 200-day moving average is $15.76. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03. The Macerich Company has a 52 week low of $9.21 and a 52 week high of $17.69. The company has a market capitalization of $3.15 billion, a PE ratio of -9.37, a P/E/G ratio of 3.02 and a beta of 2.43.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were given a $0.17 dividend. The ex-dividend date was Friday, May 17th. This represents a $0.68 dividend on an annualized basis and a yield of 4.65%. Macerich’s dividend payout ratio (DPR) is presently -43.59%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MAC. Piper Sandler downgraded Macerich from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $17.00 to $11.00 in a research report on Wednesday, May 1st. The Goldman Sachs Group lowered their price objective on Macerich from $14.00 to $12.50 and set a “sell” rating on the stock in a research report on Monday, June 17th. Citigroup raised Macerich from a “sell” rating to a “neutral” rating and raised their target price for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd. Truist Financial reissued a “hold” rating and issued a $16.00 price target on shares of Macerich in a report on Monday, March 25th. Finally, Compass Point reduced their price objective on shares of Macerich from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Five analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.64.

Insiders Place Their Bets

In other Macerich news, insider Ann C. Menard bought 4,865 shares of Macerich stock in a transaction dated Wednesday, May 8th. The shares were acquired at an average cost of $15.40 per share, with a total value of $74,921.00. Following the acquisition, the insider now directly owns 20,633 shares of the company’s stock, valued at $317,748.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jackson Hsieh acquired 140,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were purchased at an average price of $14.26 per share, with a total value of $1,996,400.00. Following the acquisition, the chief executive officer now directly owns 170,500 shares in the company, valued at $2,431,330. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ann C. Menard bought 4,865 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was bought at an average cost of $15.40 per share, with a total value of $74,921.00. Following the completion of the purchase, the insider now owns 20,633 shares of the company’s stock, valued at approximately $317,748.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 163,365 shares of company stock valued at $2,358,681. 0.53% of the stock is currently owned by insiders.

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.