Mitsubishi UFJ Asset Management Co. Ltd. Has $3.34 Million Holdings in The Macerich Company (NYSE:MAC)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of The Macerich Company (NYSE:MAC - Free Report) by 16.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 162,664 shares of the real estate investment trust's stock after purchasing an additional 23,208 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of Macerich worth $3,341,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of MAC. Bamco Inc. NY grew its position in Macerich by 742.3% in the third quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust's stock worth $30,924,000 after buying an additional 1,494,145 shares during the last quarter. Friedenthal Financial acquired a new position in shares of Macerich in the 4th quarter worth $771,000. Smartleaf Asset Management LLC raised its position in shares of Macerich by 314.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock worth $69,000 after purchasing an additional 2,630 shares during the period. Van ECK Associates Corp raised its position in shares of Macerich by 20.4% during the fourth quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust's stock worth $893,000 after purchasing an additional 7,608 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings in shares of Macerich by 2.2% during the fourth quarter. New York State Teachers Retirement System now owns 183,508 shares of the real estate investment trust's stock valued at $3,655,000 after purchasing an additional 3,979 shares during the last quarter. Institutional investors own 87.38% of the company's stock.

Remove Ads

Macerich Stock Down 11.8 %

NYSE:MAC traded down $2.10 during mid-day trading on Thursday, reaching $15.62. The stock had a trading volume of 3,677,492 shares, compared to its average volume of 1,917,876. The stock has a market cap of $3.94 billion, a P/E ratio of 40.04, a PEG ratio of 0.71 and a beta of 2.62. The business's 50 day moving average is $18.79 and its 200 day moving average is $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 Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.35%. The ex-dividend date was Tuesday, March 4th. Macerich's payout ratio is -86.08%.

Analyst Ratings Changes

Several analysts have issued reports on MAC shares. JPMorgan Chase & Co. cut their price objective on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a report on Monday, March 10th. The Goldman Sachs Group decreased their price objective on shares of Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday, March 10th. Piper Sandler cut their target price on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, February 28th. Mizuho raised Macerich from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Finally, Morgan Stanley lowered their price target on Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Tuesday. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $19.37.

About Macerich

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.