Invesco Ltd. Raises Stock Position in The Macerich Company (NYSE:MAC)

Invesco Ltd. boosted its holdings in shares of The Macerich Company (NYSE:MAC) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 529,367 shares of the real estate investment trust’s stock after purchasing an additional 41,712 shares during the period. Invesco Ltd. owned about 0.21% of Macerich worth $10,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MAC. Quantbot Technologies LP acquired a new position in shares of Macerich in the 4th quarter valued at about $30,000. Blue Trust Inc. raised its position in Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Macerich by 314.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 2,630 shares during the period. GAMMA Investing LLC boosted its position in 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 in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Macerich during the 4th quarter worth approximately $99,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MAC shares. Piper Sandler lowered their price target on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, February 28th. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and increased their target price for the stock from $19.00 to $23.00 in a research note on Thursday, January 2nd. Morgan Stanley cut their price target on Macerich from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. The Goldman Sachs Group dropped their price objective on Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a report on Monday, March 10th. Finally, Scotiabank reduced their target price on Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company 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 three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.37.

Macerich Stock Performance

MAC opened at $14.19 on Wednesday. The firm has a market capitalization of $3.58 billion, a PE ratio of 36.39, a PEG ratio of 0.71 and a beta of 2.17. The firm’s 50-day moving average price is $16.86 and its 200 day moving average price is $18.84. The Macerich Company has a twelve month low of $12.48 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.

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 paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich’s dividend payout ratio (DPR) is currently -86.08%.

Macerich Company 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.