Resona Asset Management Co. Ltd. Acquires New Position in The Macerich Company (NYSE:MAC)

Resona Asset Management Co. Ltd. acquired a new stake in The Macerich Company (NYSE:MAC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 98,099 shares of the real estate investment trust's stock, valued at approximately $1,974,000.

Several other large investors have also added to or reduced their stakes in MAC. Quantbot Technologies LP acquired a new stake in shares of Macerich during the 4th quarter worth approximately $30,000. Blue Trust Inc. raised its holdings in shares of Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 1,064 shares during the period. Smartleaf Asset Management LLC boosted its position 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 worth $69,000 after purchasing an additional 2,630 shares in the last quarter. GAMMA Investing LLC increased its position in Macerich by 36.5% in the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock valued at $87,000 after buying an additional 1,174 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Macerich during the 4th quarter worth approximately $99,000. Institutional investors and hedge funds own 87.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MAC shares. Scotiabank lowered their target price on Macerich from $22.00 to $21.00 and set a "sector perform" rating on the stock in a research report on Thursday, March 6th. Morgan Stanley dropped their price objective on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. The Goldman Sachs Group decreased their target price on shares of Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research report on Monday, March 10th. JPMorgan Chase & Co. decreased their price objective on Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a report on Monday, March 10th. Finally, Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and upped their price target for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $19.37.

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Macerich Stock Performance

Shares of NYSE MAC traded up $0.18 during mid-day trading on Tuesday, reaching $14.23. 456,674 shares of the company's stock were exchanged, compared to its average volume of 1,975,924. The Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27. The firm has a 50-day moving average price of $17.62 and a two-hundred day moving average price of $18.99. 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 firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 36.45, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17.

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 dividend of $0.17 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 4.78%. Macerich's payout ratio is currently -86.08%.

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.