MetLife Investment Management LLC Grows Stock Holdings in The Macerich Company (NYSE:MAC)

MetLife Investment Management LLC grew its holdings in The Macerich Company (NYSE:MAC) by 17.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 150,001 shares of the real estate investment trust’s stock after acquiring an additional 22,500 shares during the period. MetLife Investment Management LLC owned about 0.06% of Macerich worth $2,988,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MAC. Quantbot Technologies LP purchased a new position in Macerich in the fourth quarter valued at about $30,000. Blue Trust Inc. grew its stake in shares of Macerich by 68.8% in the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of 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 buying an additional 2,630 shares during the period. GAMMA Investing LLC lifted its position in Macerich by 36.5% during the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock worth $87,000 after acquiring an additional 1,174 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Macerich in the 4th quarter worth approximately $99,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Trading Up 1.2 %

Shares of MAC stock opened at $14.84 on Friday. The Macerich Company has a 1 year low of $12.48 and a 1 year high of $22.27. The firm has a market capitalization of $3.75 billion, a PE ratio of 38.05, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17. The stock has a fifty day moving average of $16.50 and a two-hundred day moving average of $18.77. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92.

Macerich Announces Dividend

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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich’s dividend payout ratio is currently -86.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MAC shares. Truist Financial raised shares of Macerich from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Thursday, April 10th. Piper Sandler cut their price objective on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, February 28th. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and raised their target price for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. Morgan Stanley reduced 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, April 1st. Finally, The Goldman Sachs Group dropped their price objective on Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a report on Monday, March 10th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.95.

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.