The Macerich Company (NYSE:MAC) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN raised its holdings in The Macerich Company (NYSE:MAC) by 29.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 176,861 shares of the real estate investment trust’s stock after buying an additional 40,357 shares during the period. Wells Fargo & Company MN owned approximately 0.07% of Macerich worth $3,523,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MAC. Quantbot Technologies LP acquired a new stake in Macerich in the fourth quarter valued at approximately $30,000. Blue Trust Inc. lifted its position in shares of Macerich by 68.8% during the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,064 shares during the last quarter. Smartleaf Asset Management LLC grew its stake 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 purchasing an additional 2,630 shares in the last quarter. GAMMA Investing LLC increased its holdings in Macerich by 36.5% in the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock valued at $87,000 after buying an additional 1,174 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Macerich in the fourth quarter valued at $99,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Stock Up 0.6 %

Shares of NYSE:MAC opened at $14.19 on Wednesday. The Macerich Company has a fifty-two week low of $12.48 and a fifty-two week high of $22.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The firm’s 50-day simple moving average is $16.86 and its 200-day simple moving average is $18.84. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 0.71 and a beta of 2.17.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.79%. The ex-dividend date was Tuesday, March 4th. Macerich’s payout ratio is -86.08%.

Wall Street Analysts Forecast Growth

MAC has been the subject of several analyst reports. Scotiabank lowered their price objective on Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a research report on Thursday, March 6th. The Goldman Sachs Group reduced their price objective 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. cut their price target on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a research note on Monday, March 10th. Truist Financial upgraded shares of Macerich from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Thursday, April 10th. Finally, Piper Sandler reduced their target price on Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, February 28th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued 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 $19.37.

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.