BlackRock Inc. Sells 116,525 Shares of The Macerich Company (NYSE:MAC)

BlackRock Inc. decreased its holdings in The Macerich Company (NYSE:MAC – Get Rating) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,912,785 shares of the real estate investment trust’s stock after selling 116,525 shares during the period. BlackRock Inc. owned 0.14% of Macerich worth $237,508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Macerich by 0.3% in the 2nd quarter. State Street Corp now owns 12,947,160 shares of the real estate investment trust’s stock valued at $112,770,000 after purchasing an additional 43,116 shares during the last quarter. Prudential Financial Inc. lifted its position in Macerich by 1,536.8% in the first quarter. Prudential Financial Inc. now owns 4,783,022 shares of the real estate investment trust’s stock worth $74,806,000 after buying an additional 4,490,809 shares during the last quarter. Letko Brosseau & Associates Inc. boosted its stake in Macerich by 1.8% during the third quarter. Letko Brosseau & Associates Inc. now owns 3,520,670 shares of the real estate investment trust’s stock worth $27,954,000 after buying an additional 62,550 shares during the period. Charles Schwab Investment Management Inc. increased its position in Macerich by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,811,265 shares of the real estate investment trust’s stock valued at $43,969,000 after acquiring an additional 76,691 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Macerich by 103.8% in the second quarter. AQR Capital Management LLC now owns 2,766,340 shares of the real estate investment trust’s stock valued at $23,542,000 after acquiring an additional 1,409,191 shares during the period. Hedge funds and other institutional investors own 80.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MAC. StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a report on Tuesday, February 28th. TheStreet upgraded Macerich from a “d+” rating to a “c-” rating in a report on Thursday, November 17th. Truist Financial upped their price objective on Macerich from $13.00 to $15.00 in a research report on Friday, December 16th. Deutsche Bank Aktiengesellschaft lifted their target price on Macerich from $13.00 to $16.00 in a research report on Monday, December 5th. Finally, Mizuho upped their price target on shares of Macerich from $10.00 to $11.00 in a report on Friday, December 2nd. Six analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.85.

Macerich Stock Performance

MAC stock opened at $10.39 on Tuesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.96 and a quick ratio of 0.96. The Macerich Company has a 1-year low of $7.40 and a 1-year high of $16.67. The business has a 50-day moving average price of $12.51 and a 200 day moving average price of $11.31. The company has a market capitalization of $2.23 billion, a P/E ratio of -34.63, a PEG ratio of 1.92 and a beta of 2.13.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 3rd. Stockholders of record on Friday, February 17th were given a $0.17 dividend. The ex-dividend date was Thursday, February 16th. This represents a $0.68 annualized dividend and a dividend yield of 6.54%. Macerich’s payout ratio is presently -226.66%.

Macerich Profile

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Macerich Co operates as a real estate investment trust, which engages in the acquisition, ownership, development, redevelopment, management, and leasing of regional and community shopping centers located throughout the United States. The company was founded by Mace Siegel Dana K. Anderson, Arthur M. Coppola and Edward C.