The Macerich Company (NYSE:MAC) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in The Macerich Company (NYSE:MAC - Free Report) by 34.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,835 shares of the real estate investment trust's stock after buying an additional 13,351 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Macerich were worth $1,033,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Smead Capital Management Inc. grew its stake in shares of Macerich by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust's stock valued at $372,706,000 after buying an additional 688,790 shares during the period. FMR LLC grew its stake in shares of Macerich by 12,475.9% in the 3rd quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust's stock valued at $214,738,000 after buying an additional 11,679,276 shares during the period. Geode Capital Management LLC grew its stake in shares of Macerich by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust's stock valued at $99,004,000 after buying an additional 34,982 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Macerich by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,801,369 shares of the real estate investment trust's stock valued at $87,577,000 after buying an additional 113,128 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Macerich by 1.1% in the 3rd quarter. Fisher Asset Management LLC now owns 2,995,741 shares of the real estate investment trust's stock worth $54,642,000 after acquiring an additional 31,586 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company's stock.

Insider Buying and Selling at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of the business's stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the transaction, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by company insiders.

Macerich Stock Performance

NYSE MAC traded down $0.29 during trading on Friday, reaching $20.51. The company's stock had a trading volume of 683,031 shares, compared to its average volume of 1,558,855. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 52.58, a P/E/G ratio of 0.72 and a beta of 2.50. The Macerich Company has a twelve month low of $12.99 and a twelve month high of $22.27. The business's fifty day moving average price is $20.41 and its 200-day moving average price is $18.58.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a yield of 3.32%. Macerich's dividend payout ratio is presently 174.36%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Scotiabank upgraded shares of Macerich from a "sector underperform" rating to a "sector perform" rating and set a $22.00 price objective on the stock in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Macerich in a report on Tuesday, December 17th. They issued a "hold" rating and a $22.00 price objective on the stock. Jefferies Financial Group upgraded shares of Macerich from a "hold" rating to a "buy" rating and increased their target price for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Morgan Stanley raised shares of Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 price objective on the stock in a research report on Wednesday, January 15th. Finally, Compass Point increased their price objective on shares of Macerich from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.30.

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.