Russell Investments Group Ltd. Acquires 16,797 Shares of The Macerich Company (NYSE:MAC)

Russell Investments Group Ltd. lifted its holdings in The Macerich Company (NYSE:MAC – Get Rating) by 14.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,106 shares of the real estate investment trust’s stock after purchasing an additional 16,797 shares during the quarter. Russell Investments Group Ltd.’s holdings in Macerich were worth $1,533,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in Macerich during the second quarter worth $29,000. Verdence Capital Advisors LLC acquired a new position in Macerich during the third quarter worth $79,000. Landscape Capital Management L.L.C. acquired a new position in Macerich during the third quarter worth $81,000. Vanguard Personalized Indexing Management LLC acquired a new position in Macerich during the second quarter worth $90,000. Finally, Franklin Resources Inc. acquired a new position in Macerich during the second quarter worth $92,000. Institutional investors own 80.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MAC shares. Piper Sandler lowered their target price on shares of Macerich from $11.00 to $9.00 in a report on Friday, May 5th. VNET Group reiterated a “maintains” rating on shares of Macerich in a report on Wednesday, May 17th. StockNews.com assumed coverage on shares of Macerich in a report on Thursday, May 18th. They issued a “sell” rating on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of Macerich in a report on Tuesday, March 21st. They issued a “sell” rating and a $8.50 price objective on the stock. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.00.

Macerich Trading Down 3.4 %

Shares of Macerich stock opened at $9.71 on Wednesday. The firm has a 50-day moving average of $9.83 and a 200-day moving average of $11.49. The stock has a market cap of $2.09 billion, a PE ratio of -24.27, a PEG ratio of 1.68 and a beta of 2.11. The Macerich Company has a 52-week low of $7.40 and a 52-week high of $14.51. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.02 and a current ratio of 1.02.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 19th will be given a $0.17 dividend. The ex-dividend date is Thursday, May 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 7.00%. Macerich’s payout ratio is presently -170.00%.

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.