T. Rowe Price Investment Management Inc. Raises Holdings in The Macerich Company (NYSE:MAC)

T. Rowe Price Investment Management Inc. lifted its holdings in The Macerich Company (NYSE:MAC) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,375,857 shares of the real estate investment trust’s stock after purchasing an additional 61,017 shares during the quarter. T. Rowe Price Investment Management Inc.’s holdings in Macerich were worth $87,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in shares of Macerich during the 4th quarter valued at $30,000. Blue Trust Inc. lifted its holdings in Macerich by 68.8% in the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 1,064 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Macerich by 314.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 2,630 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Macerich by 36.5% during the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 1,174 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Macerich during the fourth quarter valued at about $99,000. 87.38% of the stock is currently owned by institutional investors.

Macerich Price Performance

Shares of MAC stock opened at $14.84 on Friday. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 38.05, a PEG ratio of 0.71 and a beta of 2.17. 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 stock’s 50-day simple moving average is $16.50 and its 200-day simple moving average is $18.76. The Macerich Company has a fifty-two week low of $12.48 and a fifty-two week high of $22.27.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a yield of 4.58%. Macerich’s payout ratio is -86.08%.

Wall Street Analyst Weigh In

A number of research firms have commented on MAC. JPMorgan Chase & Co. decreased their target price 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. Scotiabank decreased their price objective on shares of Macerich from $21.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Morgan Stanley dropped their target price 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. The Goldman Sachs Group decreased their price target on Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a report on Monday, March 10th. Finally, Piper Sandler reduced their price objective on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, February 28th. Four research 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’s stock. Based on data from MarketBeat.com, Macerich currently has a consensus rating of “Hold” and a consensus 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.