Fisher Asset Management LLC Has $65.65 Million Stock Holdings in The Macerich Company (NYSE:MAC)

Fisher Asset Management LLC raised its holdings in The Macerich Company (NYSE:MAC) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,295,553 shares of the real estate investment trust’s stock after acquiring an additional 299,812 shares during the quarter. Fisher Asset Management LLC owned about 1.33% of Macerich worth $65,647,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MAC. Blue Trust Inc. lifted its stake in Macerich by 152.2% in the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 933 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Macerich by 1,298.4% in the third quarter. International Assets Investment Management LLC now owns 260,598 shares of the real estate investment trust’s stock valued at $4,753,000 after acquiring an additional 241,963 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Macerich by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock valued at $150,000 after acquiring an additional 2,161 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Macerich by 5.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 139,352 shares of the real estate investment trust’s stock valued at $2,452,000 after acquiring an additional 7,554 shares during the last quarter. Finally, abrdn plc lifted its stake in Macerich by 9.2% in the third quarter. abrdn plc now owns 42,971 shares of the real estate investment trust’s stock valued at $784,000 after acquiring an additional 3,636 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MAC has been the subject of a number of analyst reports. Compass Point boosted their price objective on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Scotiabank upgraded shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price objective for the company in a research note on Tuesday, December 17th. Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $14.00 to $22.00 in a research note on Wednesday, December 4th. Morgan Stanley upgraded shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective for the company in a research note on Wednesday, January 15th. Finally, Piper Sandler reduced their price objective on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.22.

Macerich Price Performance

NYSE:MAC opened at $18.04 on Friday. The stock has a market cap of $4.48 billion, a P/E ratio of 46.24, a PEG ratio of 0.71 and a beta of 2.50. The Macerich Company has a one year low of $12.99 and a one year high of $22.27. The company has a fifty day moving average price of $20.17 and a 200 day moving average price of $18.92. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Tuesday, March 4th. Macerich’s payout ratio is currently -86.08%.

Insider Activity at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total value of $1,303,120.51. Following the sale, the director now owns 83,479 shares of the company’s stock, valued at $1,718,832.61. The trade was a 43.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

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.