Centersquare Investment Management LLC Sells 255,960 Shares of The Macerich Company (NYSE:MAC)

Centersquare Investment Management LLC trimmed its holdings in The Macerich Company (NYSE:MAC) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,015,438 shares of the real estate investment trust’s stock after selling 255,960 shares during the period. Centersquare Investment Management LLC owned 0.81% of Macerich worth $40,148,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP raised its holdings in Macerich by 845.9% in the 4th quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust’s stock valued at $200,222,000 after acquiring an additional 8,988,665 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Macerich by 13.2% in the fourth quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust’s stock worth $769,260,000 after purchasing an additional 4,503,509 shares during the period. Prudential Financial Inc. raised its stake in Macerich by 463.6% in the fourth quarter. Prudential Financial Inc. now owns 2,590,689 shares of the real estate investment trust’s stock valued at $51,607,000 after purchasing an additional 2,131,030 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Macerich by 77.7% during the fourth quarter. JPMorgan Chase & Co. now owns 3,812,987 shares of the real estate investment trust’s stock worth $75,955,000 after purchasing an additional 1,667,066 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 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 buying an additional 1,236,983 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.

Macerich Price Performance

Shares of MAC opened at $15.62 on Friday. The business has a 50-day moving average of $18.79 and a 200-day moving average of $19.18. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 40.04, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17. The Macerich Company has a 1 year low of $12.99 and a 1 year high of $22.27.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were given 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 4.35%. Macerich’s dividend payout ratio (DPR) is currently -86.08%.

Analyst Ratings Changes

Several brokerages have recently commented on MAC. Scotiabank dropped their target price on shares of Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a research report on Thursday, March 6th. Piper Sandler lowered their price objective on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, February 28th. Truist Financial reduced their target price on Macerich from $23.00 to $19.00 and set a “hold” rating on the stock in a report on Tuesday. Morgan Stanley lowered their price target on Macerich from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on Macerich in a research note on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price objective on the stock. Four equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.37.

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.