Marshall Wace LLP Purchases Shares of 914,499 The Macerich Company (NYSE:MAC)

Posted by Defense World Staff on Mar 12th, 2023

Marshall Wace LLP purchased a new stake in The Macerich Company (NYSE:MAC – Get Rating) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 914,499 shares of the real estate investment trust’s stock, valued at approximately $7,260,000. Marshall Wace LLP owned about 0.43% of Macerich as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new position in shares of Macerich in the 2nd quarter valued at $483,000. Jump Financial LLC lifted its holdings in shares of Macerich by 339.7% during the 3rd quarter. Jump Financial LLC now owns 161,292 shares of the real estate investment trust’s stock valued at $1,280,000 after acquiring an additional 124,612 shares in the last quarter. Delphia USA Inc. acquired a new position in shares of Macerich during the 2nd quarter valued at $90,000. Tudor Investment Corp Et Al acquired a new position in shares of Macerich during the 3rd quarter valued at $2,699,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Macerich during the 3rd quarter valued at $81,000. Institutional investors and hedge funds own 80.81% of the company’s stock.

Macerich Trading Down 6.4 %

Shares of NYSE:MAC opened at $10.68 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.54. The Macerich Company has a fifty-two week low of $7.40 and a fifty-two week high of $16.67. The firm has a 50-day simple moving average of $12.51 and a 200 day simple moving average of $11.29.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 3rd. Investors of record on Friday, February 17th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date of this dividend was Thursday, February 16th. Macerich’s dividend payout ratio is presently -226.66%.

Analysts Set New Price Targets

MAC has been the topic of several recent research reports. StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a report on Tuesday, February 28th. TheStreet upgraded shares of Macerich from a “d+” rating to a “c-” rating in a report on Thursday, November 17th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Macerich from $13.00 to $16.00 in a report on Monday, December 5th. Piper Sandler boosted their price objective on shares of Macerich from $9.00 to $11.00 and gave the stock an “underweight” rating in a report on Wednesday, February 8th. Finally, Truist Financial boosted their price objective on shares of Macerich from $13.00 to $15.00 in a report on Friday, December 16th. Six analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.85.

Macerich Company Profile

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Macerich Co operates as a real estate investment trust, which engages in the acquisition, ownership, development, redevelopment, management and leasing of regional and community shopping centers located throughout the United States. It conducts all of its operations through the operating partnership and the management companies.