Wellington Management Group LLP Has $200.22 Million Stake in The Macerich Company (NYSE:MAC)

Wellington Management Group LLP increased its holdings in shares of The Macerich Company (NYSE:MAC) by 845.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,051,286 shares of the real estate investment trust’s stock after acquiring an additional 8,988,665 shares during the quarter. Wellington Management Group LLP owned about 3.98% of Macerich worth $200,222,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MAC. Cerity Partners LLC raised its holdings in Macerich by 21.9% in the 3rd quarter. Cerity Partners LLC now owns 31,368 shares of the real estate investment trust’s stock valued at $572,000 after acquiring an additional 5,642 shares during the period. Townsquare Capital LLC increased its stake in shares of Macerich by 7.2% during the third quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock worth $245,000 after purchasing an additional 902 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Macerich by 399.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust’s stock worth $28,206,000 after purchasing an additional 1,236,983 shares during the period. Janus Henderson Group PLC lifted its holdings in Macerich by 7.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,950,224 shares of the real estate investment trust’s stock worth $53,826,000 after purchasing an additional 201,581 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new stake in Macerich in the 3rd quarter valued at $256,000. Institutional investors own 87.38% of the company’s stock.

Wall Street Analysts Forecast Growth

MAC has been the subject of a number of research reports. Truist Financial dropped their target price on Macerich from $23.00 to $19.00 and set a “hold” rating for the company in a report on Tuesday. Morgan Stanley dropped their price objective on shares of Macerich from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday. Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and raised their target price for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Finally, Piper Sandler cut their price target on Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, February 28th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Macerich presently has an average rating of “Hold” and a consensus price target of $19.37.

Macerich Price Performance

Macerich stock opened at $17.73 on Thursday. The stock has a fifty day moving average of $18.88 and a 200-day moving average of $19.20. The stock has a market capitalization of $4.48 billion, a P/E ratio of 45.46, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. 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 Macerich Company has a 52 week low of $12.99 and a 52 week high of $22.27.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a $0.17 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.84%. Macerich’s payout ratio is currently -86.08%.

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.