The Macerich Company (NYSE:MAC) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its position in shares of The Macerich Company (NYSE:MAC) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 328,694 shares of the real estate investment trust’s stock after acquiring an additional 15,362 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Macerich were worth $6,548,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in MAC. Quantbot Technologies LP acquired a new stake in shares of Macerich during the fourth quarter worth about $30,000. Blue Trust Inc. raised its position in Macerich by 68.8% during the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,064 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Macerich by 314.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 2,630 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Macerich by 36.5% in 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 last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Macerich in the fourth quarter worth $99,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a research report on Monday, March 10th. Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and boosted their price objective for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Morgan Stanley dropped their target price on Macerich from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Piper Sandler decreased their price target on Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, February 28th. Finally, Truist Financial raised shares of Macerich from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Thursday, April 10th. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.37.

Macerich Price Performance

Shares of NYSE MAC opened at $14.66 on Monday. 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 firm has a fifty day moving average of $17.12 and a 200 day moving average of $18.89. The firm has a market cap of $3.70 billion, a PE ratio of 37.58, a PEG ratio of 0.71 and a beta of 2.17. The Macerich Company has a one year low of $12.48 and a one year high of $22.27.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.64%. 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.