Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Boosts Holdings in The Macerich Company (NYSE:MAC)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of The Macerich Company (NYSE:MACGet Rating) by 8.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,075 shares of the real estate investment trust’s stock after acquiring an additional 7,474 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Macerich were worth $795,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MAC. Raymond James & Associates raised its stake in Macerich by 59.5% during the 1st quarter. Raymond James & Associates now owns 17,799 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 6,640 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Macerich by 19.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 26,417 shares of the real estate investment trust’s stock valued at $413,000 after buying an additional 4,253 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Macerich by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 78,076 shares of the real estate investment trust’s stock valued at $1,221,000 after buying an additional 7,444 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of Macerich by 5.9% during the first quarter. Great West Life Assurance Co. Can now owns 295,511 shares of the real estate investment trust’s stock valued at $4,777,000 after buying an additional 16,588 shares during the last quarter. Finally, Yousif Capital Management LLC raised its position in shares of Macerich by 1.4% during the first quarter. Yousif Capital Management LLC now owns 120,805 shares of the real estate investment trust’s stock valued at $1,889,000 after buying an additional 1,700 shares during the last quarter. Institutional investors own 80.81% of the company’s stock.

Macerich Stock Up 2.6 %

NYSE MAC opened at $12.46 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.46. The company has a fifty day moving average of $12.24 and a two-hundred day moving average of $10.69. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -31.95, a PEG ratio of 2.52 and a beta of 2.04. The Macerich Company has a 52 week low of $7.40 and a 52 week high of $17.63.

Macerich Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Shareholders of record on Wednesday, November 9th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 5.46%. This is a positive change from Macerich’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, November 8th. Macerich’s payout ratio is presently -174.36%.

Analyst Upgrades and Downgrades

MAC has been the topic of several recent analyst reports. Mizuho lifted their price objective on shares of Macerich from $10.00 to $11.00 in a research report on Friday, December 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Macerich from $13.00 to $16.00 in a research report on Monday, December 5th. Piper Sandler raised their target price on shares of Macerich to $9.00 in a report on Wednesday, November 16th. Evercore ISI cut their target price on shares of Macerich from $13.00 to $11.00 and set an “in-line” rating for the company in a report on Tuesday, September 27th. Finally, Truist Financial raised their target price on shares of Macerich from $13.00 to $15.00 in a report on Friday, December 16th. Six analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Macerich presently has a consensus rating of “Hold” and a consensus price target of $12.65.

Insider Activity

In other news, CAO Christopher J. Zecchini sold 2,000 shares of the business’s stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $12.65, for a total transaction of $25,300.00. Following the completion of the sale, the chief accounting officer now directly owns 7,458 shares of the company’s stock, valued at $94,343.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.77% of the company’s stock.

About Macerich

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Macerich is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.

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Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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