The Macerich Company (NYSE:MAC) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in The Macerich Company (NYSE:MAC) by 34.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,374 shares of the real estate investment trust’s stock after buying an additional 2,161 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Macerich were worth $150,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MAC. Janney Montgomery Scott LLC lifted its position in shares of Macerich by 47.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 33,768 shares of the real estate investment trust’s stock valued at $582,000 after buying an additional 10,790 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in Macerich in the 1st quarter valued at $46,000. Daiwa Securities Group Inc. lifted its holdings in Macerich by 7.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 70,098 shares of the real estate investment trust’s stock valued at $1,208,000 after purchasing an additional 4,691 shares in the last quarter. Jennison Associates LLC purchased a new position in Macerich in the 1st quarter valued at $602,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Macerich in the 1st quarter worth $807,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Wall Street Analysts Forecast Growth

MAC has been the subject of a number of recent research reports. The Goldman Sachs Group raised their target price on Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research note on Thursday, September 19th. Evercore ISI raised their target price on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Bank of America raised their target price on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. StockNews.com raised Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Piper Sandler raised their price objective on Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Macerich has an average rating of “Hold” and a consensus price target of $15.84.

Macerich Stock Performance

Shares of Macerich stock opened at $18.67 on Tuesday. The business has a 50-day moving average of $17.30 and a 200 day moving average of $15.93. The Macerich Company has a 12 month low of $9.90 and a 12 month high of $19.09. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of -56.57, a price-to-earnings-growth ratio of 0.63 and a beta of 2.49. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.86 and a quick ratio of 0.86.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Tuesday, November 12th. Macerich’s dividend payout ratio (DPR) is -206.05%.

About Macerich

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.