Sumitomo Mitsui Trust Group Inc. increased its holdings in The Macerich Company (NYSE:MAC - Free Report) by 14.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,542 shares of the real estate investment trust's stock after acquiring an additional 32,842 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.11% of Macerich worth $5,310,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Macerich by 152.2% in the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 933 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust's stock valued at $59,000 after acquiring an additional 933 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Macerich by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust's stock valued at $150,000 after acquiring an additional 2,161 shares during the period. Custom Index Systems LLC grew its position in shares of Macerich by 8.7% during the 4th quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust's stock valued at $232,000 after acquiring an additional 928 shares during the period. Finally, KBC Group NV grew its position in shares of Macerich by 92.1% during the 4th quarter. KBC Group NV now owns 11,814 shares of the real estate investment trust's stock valued at $235,000 after acquiring an additional 5,664 shares during the period. 87.38% of the stock is owned by institutional investors.
Macerich Price Performance
NYSE MAC traded down $0.29 on Monday, hitting $20.51. The stock had a trading volume of 683,031 shares, compared to its average volume of 1,558,855. The Macerich Company has a 52-week low of $12.99 and a 52-week high of $22.27. 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 company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 52.58, a price-to-earnings-growth ratio of 0.72 and a beta of 2.50. The firm has a 50-day moving average of $20.38 and a 200-day moving average of $18.63.
Macerich Announces Dividend
The company also recently announced 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. This represents a $0.68 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Tuesday, March 4th. Macerich's dividend payout ratio is presently 174.36%.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of Macerich from a "hold" rating to a "buy" rating and increased their target price for the company from $19.00 to $23.00 in a research 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 target price for the company in a research report on Wednesday, January 15th. StockNews.com downgraded shares of Macerich from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Macerich in a research note on Tuesday, December 17th. They set a "hold" rating and a $22.00 price target on the stock. Finally, Compass Point upped their price target on shares of Macerich from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Macerich currently has a consensus rating of "Hold" and an average target price of $19.30.
Read Our Latest Report on Macerich
Insiders Place Their Bets
In other news, Director Andrea M. Stephen sold 63,289 shares of the firm's stock in a transaction on 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 sale, the director now owns 83,479 shares in the company, valued at approximately $1,718,832.61. This trade represents a 43.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company's stock.
About Macerich
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Free Report)
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.
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