Macerich Co (MAC) Position Cut by Mitsubishi UFJ Trust & Banking Corp
Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Macerich Co (NYSE:MAC) by 1.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 243,559 shares of the real estate investment trust’s stock after selling 2,567 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.17% of Macerich worth $13,388,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in MAC. Korea Investment CORP grew its holdings in Macerich by 830.8% in the second quarter. Korea Investment CORP now owns 36,300 shares of the real estate investment trust’s stock valued at $2,108,000 after purchasing an additional 32,400 shares during the period. Global X Management Co. LLC grew its holdings in Macerich by 24.1% in the second quarter. Global X Management Co. LLC now owns 6,435 shares of the real estate investment trust’s stock valued at $374,000 after purchasing an additional 1,250 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Macerich by 10.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,017,873 shares of the real estate investment trust’s stock valued at $59,098,000 after purchasing an additional 98,499 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Macerich by 14.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 11,758 shares of the real estate investment trust’s stock valued at $719,000 after purchasing an additional 1,443 shares during the period. Finally, LMR Partners LLP purchased a new stake in Macerich in the second quarter valued at approximately $821,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.
Shares of Macerich Co (NYSE:MAC) traded up $1.28 during mid-day trading on Monday, reaching $65.75. 1,228,800 shares of the company’s stock were exchanged, compared to its average volume of 1,471,192. The firm has a market capitalization of $9,255.82, a PE ratio of 16.52, a price-to-earnings-growth ratio of 3.08 and a beta of 0.88. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.25. Macerich Co has a 1 year low of $52.12 and a 1 year high of $73.34.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were given a dividend of $0.74 per share. This is a boost from Macerich’s previous quarterly dividend of $0.71. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date was Thursday, November 9th. Macerich’s payout ratio is presently 281.91%.
A number of equities research analysts recently issued reports on the stock. Evercore ISI downgraded shares of Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 target price for the company. in a report on Monday. Citigroup lowered their target price on shares of Macerich from $66.00 to $61.00 and set a “neutral” rating for the company in a report on Monday, August 14th. KeyCorp restated a “buy” rating and issued a $75.00 target price on shares of Macerich in a report on Thursday, September 28th. Jefferies Group reaffirmed a “hold” rating and set a $57.00 price target on shares of Macerich in a research report on Tuesday, September 26th. Finally, BidaskClub cut shares of Macerich from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $66.50.
The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.
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