Fisher Asset Management LLC Acquires 299,812 Shares of The Macerich Company (NYSE:MAC)

Fisher Asset Management LLC raised its holdings in The Macerich Company (NYSE:MAC) by 10.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,295,553 shares of the real estate investment trust’s stock after purchasing an additional 299,812 shares during the period. Fisher Asset Management LLC’s holdings in Macerich were worth $65,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Macerich by 152.2% in the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 933 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Macerich by 36.5% in the 4th 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. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Macerich in the 4th quarter worth about $99,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Macerich by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 2,161 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Macerich in the 4th quarter worth about $212,000. Institutional investors own 87.38% of the company’s stock.

Analyst Upgrades and Downgrades

MAC has been the topic of several analyst reports. Piper Sandler lowered their target price on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday. Compass Point increased their price objective on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Scotiabank raised shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price objective on the stock in a report on Tuesday, December 17th. Morgan Stanley raised shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock in a report on Wednesday, January 15th. Finally, Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and increased their price objective for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Macerich currently has an average rating of “Hold” and a consensus price target of $19.22.

Macerich Stock Performance

Macerich stock opened at $18.04 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 Macerich Company has a 1 year low of $12.99 and a 1 year high of $22.27. The company has a market cap of $4.48 billion, a PE ratio of 46.24, a PEG ratio of 0.71 and a beta of 2.50. The company’s 50-day moving average is $20.17 and its two-hundred day moving average is $18.92.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a yield of 3.77%. Macerich’s payout ratio is presently -86.08%.

Insider Buying and Selling at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the transaction, the director now directly owns 83,479 shares in the company, valued at approximately $1,718,832.61. This represents a 43.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Macerich Profile

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.