First Trust Advisors LP Grows Stake in The Macerich Company (NYSE:MAC)

First Trust Advisors LP boosted its holdings in shares of The Macerich Company (NYSE:MAC) by 11.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 182,221 shares of the real estate investment trust’s stock after buying an additional 18,332 shares during the period. First Trust Advisors LP owned approximately 0.07% of Macerich worth $3,630,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC boosted its position in shares of Macerich by 9.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,787 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 512 shares during the last quarter. M&T Bank Corp raised its stake in Macerich by 2.8% in the fourth quarter. M&T Bank Corp now owns 20,228 shares of the real estate investment trust’s stock valued at $403,000 after purchasing an additional 543 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in Macerich by 5.7% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 12,234 shares of the real estate investment trust’s stock worth $244,000 after buying an additional 665 shares in the last quarter. Custom Index Systems LLC grew its stake in Macerich by 8.7% in the 4th quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust’s stock worth $232,000 after buying an additional 928 shares in the last quarter. Finally, Townsquare Capital LLC raised its position in shares of Macerich by 7.0% during the 4th quarter. Townsquare Capital LLC now owns 14,395 shares of the real estate investment trust’s stock valued at $287,000 after buying an additional 947 shares in the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Price Performance

Shares of MAC stock opened at $15.19 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The Macerich Company has a fifty-two week low of $12.48 and a fifty-two week high of $22.27. The firm has a market cap of $3.84 billion, a P/E ratio of 38.95, a P/E/G ratio of 0.71 and a beta of 2.17. The business’s 50 day moving average price is $15.98 and its 200-day moving average price is $18.65.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Tuesday, June 3rd. Macerich’s payout ratio is currently -86.08%.

Analysts Set New Price Targets

A number of research firms recently commented on MAC. Truist Financial raised Macerich from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Thursday, April 10th. The Goldman Sachs Group decreased their price objective on Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a report on Monday, March 10th. Scotiabank cut their target price on Macerich from $21.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. decreased 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. Finally, Morgan Stanley cut their price objective on shares of Macerich from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.95.

Macerich Profile

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.