Schonfeld Strategic Advisors LLC Buys New Stake in The Macerich Company (NYSE:MAC)

Schonfeld Strategic Advisors LLC bought a new stake in The Macerich Company (NYSE:MAC) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 18,350 shares of the real estate investment trust’s stock, valued at approximately $366,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MAC. Vanguard Group Inc. boosted its holdings in Macerich by 13.2% in the 4th quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust’s stock valued at $769,260,000 after purchasing an additional 4,503,509 shares during the period. FMR LLC boosted its holdings in Macerich by 87.3% in the 4th quarter. FMR LLC now owns 22,047,786 shares of the real estate investment trust’s stock valued at $439,192,000 after purchasing an additional 10,274,895 shares during the period. Wellington Management Group LLP boosted its holdings in Macerich by 845.9% in the 4th quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust’s stock valued at $200,222,000 after purchasing an additional 8,988,665 shares during the period. Geode Capital Management LLC boosted its holdings in Macerich by 10.6% in the 4th quarter. Geode Capital Management LLC now owns 6,001,399 shares of the real estate investment trust’s stock valued at $119,573,000 after purchasing an additional 574,490 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Macerich by 7.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,171,300 shares of the real estate investment trust’s stock valued at $103,012,000 after purchasing an additional 369,931 shares during the period. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MAC has been the subject of a number of research reports. Scotiabank reduced their price target on shares of Macerich from $21.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Piper Sandler reduced their price target on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, February 28th. Truist Financial raised shares of Macerich from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Thursday, April 10th. Morgan Stanley reduced their price target on shares of Macerich from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a report on Monday, March 10th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Macerich currently has a consensus rating of “Hold” and an average price target of $18.95.

Macerich Trading Down 0.7%

Shares of MAC stock opened at $14.96 on Monday. The Macerich Company has a 12-month low of $12.48 and a 12-month high of $22.27. The company has a market capitalization of $3.78 billion, a P/E ratio of 38.36, a P/E/G ratio of 0.71 and a beta of 2.13. The firm has a 50-day moving average price of $15.63 and a 200 day moving average price of $18.53. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.55%. The ex-dividend date is Tuesday, June 3rd. Macerich’s dividend payout ratio is currently -86.08%.

About Macerich

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.