Resona Asset Management Co. Ltd. Invests $1.97 Million in The Macerich Company (NYSE:MAC)

Resona Asset Management Co. Ltd. bought a new position in The Macerich Company (NYSE:MAC) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 98,099 shares of the real estate investment trust’s stock, valued at approximately $1,974,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Quantbot Technologies LP bought a new position in Macerich during the fourth quarter valued at about $30,000. Blue Trust Inc. raised its holdings in Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Macerich by 314.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 2,630 shares in the last quarter. GAMMA Investing LLC raised its holdings in Macerich by 36.5% during the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock valued at $87,000 after buying an additional 1,174 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Macerich during the fourth quarter valued at about $99,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MAC shares. The Goldman Sachs Group dropped their price objective on Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a research note on Monday, March 10th. Truist Financial dropped their price objective on Macerich from $23.00 to $19.00 and set a “hold” rating on the stock in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lowered their price target on Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a research note on Monday, March 10th. Deutsche Bank Aktiengesellschaft started coverage on Macerich in a research note on Tuesday, December 17th. They set a “hold” rating and a $22.00 price target on the stock. Finally, Scotiabank lowered their price target on Macerich from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 6th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.37.

Macerich Stock Up 12.8 %

Shares of MAC opened at $14.93 on Thursday. The Macerich Company has a 12 month low of $12.48 and a 12 month high of $22.27. The firm’s 50 day moving average is $18.00 and its 200-day moving average is $19.05. The stock has a market capitalization of $3.77 billion, a PE ratio of 38.28, a P/E/G ratio of 0.71 and a beta of 2.17. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a yield of 4.55%. Macerich’s dividend payout ratio is currently -86.08%.

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.