First Eagle Investment Management LLC lessened its position in shares of The Macerich Company (NYSE:MAC – Free Report) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,473 shares of the real estate investment trust’s stock after selling 12,460 shares during the quarter. First Eagle Investment Management LLC owned about 0.08% of Macerich worth $1,936,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new position in shares of Macerich during the 2nd quarter worth approximately $29,000. Harvest Fund Management Co. Ltd bought a new position in shares of Macerich during the 3rd quarter worth approximately $36,000. CWM LLC raised its stake in shares of Macerich by 176.5% during the 2nd quarter. CWM LLC now owns 3,583 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 2,287 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Macerich by 42.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,831 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 1,136 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Macerich during the 2nd quarter worth approximately $90,000. Institutional investors own 90.14% of the company’s stock.
Wall Street Analyst Weigh In
MAC has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of Macerich from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 20th. The Goldman Sachs Group boosted their target price on shares of Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $13.25.
Macerich Stock Performance
NYSE:MAC opened at $16.63 on Wednesday. The Macerich Company has a 1-year low of $8.77 and a 1-year high of $16.84. The company’s fifty day moving average price is $15.09 and its 200-day moving average price is $12.67. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.72.
Macerich Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 4th. Stockholders of record on Friday, February 16th will be paid a $0.17 dividend. The ex-dividend date is Thursday, February 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.09%. Macerich’s payout ratio is currently -43.87%.
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.
- Five stocks we like better than Macerich
- 3 Best Fintech Stocks for a Portfolio Boost
- Ulta Beauty set for a breakout to new highs
- Insider Trades May Not Tell You What You Think
- Exxon and Chevron ready to rally: The floor is in for big oil
- NYSE Stocks Give Investors a Variety of Quality Options
- Analysts jumped on this stock ahead of earnings; markets love it
Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with MarketBeat.com's FREE daily email newsletter.