The Macerich Company (NYSE:MAC) Shares Purchased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd increased its holdings in shares of The Macerich Company (NYSE:MAC) by 10.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 67,035 shares of the real estate investment trust’s stock after purchasing an additional 6,500 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Macerich were worth $1,335,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MAC. Citigroup Inc. lifted its holdings in shares of Macerich by 32.3% during the 3rd quarter. Citigroup Inc. now owns 359,069 shares of the real estate investment trust’s stock worth $6,549,000 after acquiring an additional 87,611 shares during the period. Cerity Partners LLC raised its stake in Macerich by 21.9% during the third quarter. Cerity Partners LLC now owns 31,368 shares of the real estate investment trust’s stock worth $572,000 after purchasing an additional 5,642 shares during the period. FMR LLC boosted its holdings in shares of Macerich by 12,475.9% in the 3rd quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock valued at $214,738,000 after purchasing an additional 11,679,276 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of Macerich by 7.2% during the 3rd quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock valued at $245,000 after buying an additional 902 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Macerich by 399.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust’s stock valued at $28,206,000 after buying an additional 1,236,983 shares during the period. 87.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. The Goldman Sachs Group reduced their target price on Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a report on Monday, March 10th. Piper Sandler reduced their price objective on Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, February 28th. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. JPMorgan Chase & Co. reduced their price target on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a research report on Monday, March 10th. Finally, Morgan Stanley raised shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective for the company in a research report on Wednesday, January 15th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Macerich presently has a consensus rating of “Hold” and an average target price of $19.49.

Macerich Price Performance

MAC opened at $17.10 on Monday. The Macerich Company has a twelve month low of $12.99 and a twelve month 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. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 43.85, a PEG ratio of 0.71 and a beta of 2.62. The company has a fifty day simple moving average of $19.04 and a 200 day simple moving average of $19.20.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich’s payout ratio 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.