Ameriprise Financial Inc. Increases Stock Position in The Macerich Company (NYSE:MAC)

Ameriprise Financial Inc. grew its stake in The Macerich Company (NYSE:MAC) by 8.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,280,658 shares of the real estate investment trust’s stock after acquiring an additional 249,592 shares during the period. Ameriprise Financial Inc. owned about 1.32% of Macerich worth $65,351,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in MAC. CIBC Private Wealth Group LLC lifted its stake in Macerich by 9.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 5,787 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 512 shares in the last quarter. M&T Bank Corp lifted its stake in Macerich by 2.8% during the 4th quarter. M&T Bank Corp now owns 20,228 shares of the real estate investment trust’s stock worth $403,000 after acquiring an additional 543 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in Macerich by 5.7% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 12,234 shares of the real estate investment trust’s stock valued at $244,000 after acquiring an additional 665 shares during the period. Custom Index Systems LLC grew its position in Macerich by 8.7% in the 4th quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust’s stock valued at $232,000 after acquiring an additional 928 shares in the last quarter. Finally, Townsquare Capital LLC increased its stake in Macerich by 7.0% during the fourth quarter. Townsquare Capital LLC now owns 14,395 shares of the real estate investment trust’s stock worth $287,000 after purchasing an additional 947 shares during the period. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial upgraded shares of Macerich from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Thursday, April 10th. Piper Sandler cut their price objective on Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group lowered their target price on Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a research note on Monday, March 10th. JPMorgan Chase & Co. reduced their price target on Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a research report on Monday, March 10th. Finally, Morgan Stanley cut their target price on shares of Macerich from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have given 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 Trading Down 0.7 %

Shares of Macerich stock opened at $14.96 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The company has a fifty day simple moving average of $15.63 and a 200-day simple moving average of $18.52. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 0.71 and a beta of 2.13. The Macerich Company has a 12-month low of $12.48 and a 12-month high of $22.27.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders 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 dividend yield of 4.55%. The ex-dividend date of this dividend is Tuesday, June 3rd. Macerich’s payout ratio is -86.08%.

Macerich Company 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.