Wellington Management Group LLP Has $200.22 Million Position in The Macerich Company (NYSE:MAC)

Wellington Management Group LLP grew its position in shares of The Macerich Company (NYSE:MAC) by 845.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,051,286 shares of the real estate investment trust’s stock after purchasing an additional 8,988,665 shares during the quarter. Wellington Management Group LLP’s holdings in Macerich were worth $200,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in Macerich in the fourth quarter valued at $30,000. Blue Trust Inc. increased its stake in shares of Macerich by 68.8% in the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,064 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Macerich by 314.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 2,630 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Macerich by 36.5% in the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock worth $87,000 after acquiring an additional 1,174 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Macerich in the fourth quarter valued at approximately $99,000. 87.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Scotiabank lowered their price target on shares of Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a report on Thursday, March 6th. The Goldman Sachs Group cut their price target on shares of Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a research report on Monday, March 10th. Piper Sandler lowered their price objective on Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, February 28th. Morgan Stanley decreased their target price on Macerich from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and boosted their price target for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. Four analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.37.

Macerich Stock Performance

MAC opened at $17.73 on Thursday. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 45.46, a PEG ratio of 0.71 and a beta of 2.62. The company’s fifty day moving average price is $18.88 and its two-hundred day moving average price is $19.20. The Macerich Company has a 1-year low of $12.99 and a 1-year high of $22.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Dividend Announcement

The business also recently disclosed 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. This represents a $0.68 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Tuesday, March 4th. Macerich’s dividend payout ratio is currently -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.