Asset Management One Co. Ltd. Cuts Stock Holdings in The Macerich Company (NYSE:MAC)

Asset Management One Co. Ltd. reduced its position in The Macerich Company (NYSE:MAC) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,078 shares of the real estate investment trust’s stock after selling 18,580 shares during the period. Asset Management One Co. Ltd. owned about 0.14% of Macerich worth $5,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in MAC. Blue Trust Inc. raised its position in shares of Macerich by 152.2% in the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 933 shares during the period. Quest Partners LLC acquired a new position in Macerich in the 2nd quarter worth about $50,000. GAMMA Investing LLC boosted its position in Macerich by 40.9% during the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 933 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Macerich in the second quarter valued at approximately $129,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Macerich by 34.8% in the third 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 buying an additional 2,161 shares in the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Stock Up 1.2 %

Shares of NYSE:MAC opened at $19.53 on Friday. The Macerich Company has a 52-week low of $9.90 and a 52-week high of $20.27. The company has a quick ratio of 0.86, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The business has a fifty day moving average of $17.62 and a two-hundred day moving average of $16.05. The stock has a market cap of $4.22 billion, a P/E ratio of 50.07, a PEG ratio of 0.62 and a beta of 2.50.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Tuesday, November 12th. Macerich’s payout ratio is currently 174.36%.

Analysts Set New Price Targets

MAC has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their price target on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research note on Thursday, September 19th. Bank of America lifted their target price on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Piper Sandler upped their price target on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. Compass Point boosted their price objective on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Evercore ISI increased their target price on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.40.

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.