Vanguard Group Inc. Has $769.26 Million Holdings in The Macerich Company (NYSE:MAC)

Vanguard Group Inc. lifted its position in The Macerich Company (NYSE:MAC) by 13.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,617,446 shares of the real estate investment trust’s stock after acquiring an additional 4,503,509 shares during the period. Vanguard Group Inc. owned about 0.16% of Macerich worth $769,260,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in Macerich during the 4th quarter valued at $993,000. Sei Investments Co. raised its position in Macerich by 27.8% during the fourth quarter. Sei Investments Co. now owns 828,498 shares of the real estate investment trust’s stock valued at $16,504,000 after buying an additional 180,293 shares during the period. Quantbot Technologies LP purchased a new stake in Macerich in the 4th quarter worth about $30,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Macerich by 53.9% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 128,978 shares of the real estate investment trust’s stock worth $2,569,000 after acquiring an additional 45,195 shares during the period. Finally, Berkeley Capital Partners LLC grew its stake in Macerich by 4.1% during the 4th quarter. Berkeley Capital Partners LLC now owns 64,401 shares of the real estate investment trust’s stock valued at $1,283,000 after acquiring an additional 2,553 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Performance

MAC opened at $17.10 on Friday. 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 has a market cap of $4.32 billion, a PE ratio of 43.85, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. The stock has a 50-day moving average of $19.04 and a 200-day moving average of $19.18. The Macerich Company has a 52-week low of $12.99 and a 52-week high of $22.27.

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 issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 annualized dividend and a yield of 3.98%. Macerich’s dividend payout ratio (DPR) is presently -86.08%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MAC. The Goldman Sachs Group reduced their price target on shares of Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a research report on Monday, March 10th. JPMorgan Chase & Co. decreased their target price on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a research note on Monday, March 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Macerich in a report on Tuesday, December 17th. They set a “hold” rating and a $22.00 price target on the stock. Piper Sandler cut their price objective on Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, February 28th. Finally, Scotiabank lowered their target price on Macerich from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 6th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.49.

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.