Asset Management One Co. Ltd. Has $7.15 Million Stake in The Macerich Company (NYSE:MAC)

Asset Management One Co. Ltd. grew its position in shares of The Macerich Company (NYSE:MAC) by 16.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 354,968 shares of the real estate investment trust’s stock after buying an additional 48,890 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Macerich were worth $7,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Creative Planning lifted its holdings in Macerich by 5.1% in the 3rd quarter. Creative Planning now owns 318,650 shares of the real estate investment trust’s stock worth $5,812,000 after purchasing an additional 15,520 shares during the last quarter. Blue Trust Inc. lifted its holdings 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 during the last quarter. International Assets Investment Management LLC lifted its holdings in Macerich by 1,298.4% in the 3rd quarter. International Assets Investment Management LLC now owns 260,598 shares of the real estate investment trust’s stock worth $4,753,000 after purchasing an additional 241,963 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Macerich by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 2,161 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Macerich by 5.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 139,352 shares of the real estate investment trust’s stock worth $2,452,000 after purchasing an additional 7,554 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the sale, the director now directly owns 83,479 shares in the company, valued at approximately $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. Scotiabank upgraded Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 target price for the company in a report on Tuesday, December 17th. StockNews.com downgraded Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Macerich in a research report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price target on the stock. Finally, Compass Point lifted their price target on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.30.

Macerich Stock Performance

MAC opened at $20.51 on Tuesday. The stock has a market cap of $5.10 billion, a PE ratio of 52.58, a P/E/G ratio of 0.72 and a beta of 2.50. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 1 year low of $12.99 and a 1 year high of $22.27. The stock’s 50 day simple moving average is $20.38 and its 200-day simple moving average is $18.63.

Macerich Dividend Announcement

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

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.