Nuveen Asset Management LLC boosted its holdings in The Macerich Company (NYSE:MAC) by 25.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,027,450 shares of the real estate investment trust’s stock after acquiring an additional 413,161 shares during the quarter. Nuveen Asset Management LLC owned about 1.36% of The Macerich worth $21,632,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. boosted its position in shares of The Macerich by 16.2% during the 4th quarter. BlackRock Inc. now owns 21,011,260 shares of the real estate investment trust’s stock valued at $224,190,000 after purchasing an additional 2,925,851 shares in the last quarter. FIL Ltd lifted its stake in The Macerich by 233.5% during the fourth quarter. FIL Ltd now owns 3,563,512 shares of the real estate investment trust’s stock valued at $38,023,000 after purchasing an additional 2,494,978 shares during the last quarter. Kennedy Capital Management Inc. boosted its holdings in The Macerich by 155.8% during the fourth quarter. Kennedy Capital Management Inc. now owns 1,255,160 shares of the real estate investment trust’s stock worth $13,393,000 after buying an additional 764,420 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its position in The Macerich by 513.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 596,181 shares of the real estate investment trust’s stock worth $6,362,000 after buying an additional 498,945 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of The Macerich by 116.6% in the third quarter. AQR Capital Management LLC now owns 475,094 shares of the real estate investment trust’s stock valued at $3,226,000 after buying an additional 255,705 shares in the last quarter. 83.79% of the stock is owned by institutional investors.
In related news, major shareholder Teachers Pension Plan Ontario sold 24,562,964 shares of the company’s stock in a transaction on Wednesday, January 27th. The shares were sold at an average price of $20.25, for a total value of $497,400,021.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.15% of the stock is currently owned by insiders.
The Macerich (NYSE:MAC) last released its quarterly earnings data on Wednesday, February 10th. The real estate investment trust reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.72). The Macerich had a negative return on equity of 1.03% and a negative net margin of 1.55%. On average, equities research analysts expect that The Macerich Company will post 2.28 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 3rd. Stockholders of record on Friday, February 19th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, February 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.85%. The Macerich’s dividend payout ratio is currently 16.95%.
MAC has been the topic of a number of recent research reports. Truist Securities lifted their target price on The Macerich from $14.00 to $15.00 in a report on Monday, March 22nd. Truist lifted their price target on The Macerich from $14.00 to $15.00 in a research note on Monday, March 22nd. JPMorgan Chase & Co. lowered shares of The Macerich from a “neutral” rating to an “underweight” rating and set a $12.00 price objective for the company. in a research note on Monday, December 21st. Zacks Investment Research downgraded shares of The Macerich from a “hold” rating to a “sell” rating and set a $13.50 target price on the stock. in a research report on Thursday, January 14th. Finally, Smith Barney Citigroup downgraded shares of The Macerich from a “neutral” rating to a “sell” rating in a research report on Tuesday, December 15th. Nine analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The Macerich currently has a consensus rating of “Sell” and an average price target of $10.32.
The Macerich Company Profile
Macerich is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.
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