Thrivent Financial for Lutherans Decreases Holdings in The Macerich Company (NYSE:MAC)

Thrivent Financial for Lutherans decreased its holdings in The Macerich Company (NYSE:MAC – Get Rating) by 1.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,493 shares of the real estate investment trust’s stock after selling 1,134 shares during the period. Thrivent Financial for Lutherans’ holdings in Macerich were worth $929,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prudential Financial Inc. boosted its holdings in Macerich by 1,536.8% during the 1st quarter. Prudential Financial Inc. now owns 4,783,022 shares of the real estate investment trust’s stock valued at $74,806,000 after acquiring an additional 4,490,809 shares during the period. Fisher Asset Management LLC bought a new position in shares of Macerich in the fourth quarter worth approximately $45,305,000. State Street Corp increased its stake in shares of Macerich by 13.0% in the first quarter. State Street Corp now owns 12,904,044 shares of the real estate investment trust’s stock worth $201,819,000 after buying an additional 1,482,622 shares during the period. Marshall Wace LLP bought a new stake in Macerich during the 3rd quarter valued at $7,260,000. Finally, Bank of Montreal Can boosted its position in Macerich by 1,238.9% during the 3rd quarter. Bank of Montreal Can now owns 584,234 shares of the real estate investment trust’s stock valued at $5,813,000 after buying an additional 540,598 shares during the period. Institutional investors own 80.81% of the company’s stock.

Wall Street Analyst Weigh In

MAC has been the subject of a number of analyst reports. StockNews.com started coverage on shares of Macerich in a report on Thursday, May 18th. They set a “sell” rating for the company. Piper Sandler cut their price objective on Macerich from $11.00 to $9.00 in a research report on Friday, May 5th. The Goldman Sachs Group assumed coverage on Macerich in a report on Tuesday, March 21st. They set a “sell” rating and a $8.50 target price for the company. Finally, VNET Group reissued a “maintains” rating on shares of Macerich in a research report on Wednesday, May 17th. Five equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Macerich Price Performance

Shares of MAC opened at $9.71 on Wednesday. The Macerich Company has a fifty-two week low of $7.40 and a fifty-two week high of $14.51. The firm’s 50-day simple moving average is $9.83 and its two-hundred day simple moving average is $11.49. The stock has a market cap of $2.09 billion, a PE ratio of -24.27, a price-to-earnings-growth ratio of 1.68 and a beta of 2.11. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, May 19th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 7.00%. The ex-dividend date is Thursday, May 18th. Macerich’s dividend payout ratio (DPR) 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.