Sumitomo Mitsui DS Asset Management Company Ltd Has $1.03 Million Holdings in The Macerich Company (NYSE:MAC)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of The Macerich Company (NYSE:MAC) by 34.7% in the fourth quarter, HoldingsChannel reports. The firm owned 51,835 shares of the real estate investment trust’s stock after acquiring an additional 13,351 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Macerich were worth $1,033,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. increased its stake 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 valued at $28,000 after buying an additional 933 shares in the last quarter. GAMMA Investing LLC grew its holdings in Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 933 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position 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 valued at $150,000 after acquiring an additional 2,161 shares in the last quarter. Custom Index Systems LLC raised its stake in shares of Macerich by 8.7% in the fourth quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust’s stock worth $232,000 after acquiring an additional 928 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Macerich by 92.1% during the fourth quarter. KBC Group NV now owns 11,814 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 5,664 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

Macerich Stock Up 2.1 %

Shares of NYSE MAC opened at $20.84 on Wednesday. The Macerich Company has a 52-week low of $12.99 and a 52-week high of $22.27. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $5.18 billion, a P/E ratio of 53.42, a P/E/G ratio of 0.72 and a beta of 2.50. The firm has a 50 day moving average price of $20.48 and a 200 day moving average price of $18.51.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MAC. Piper Sandler raised their price target on shares of Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a report on Wednesday, December 11th. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and boosted their target price for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. StockNews.com cut Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Scotiabank raised Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price objective for the company in a report on Tuesday, December 17th. Finally, Morgan Stanley raised shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 target price on the stock in a research note on Wednesday, January 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.30.

Insider Transactions at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction dated 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 transaction, the director now owns 83,479 shares in the company, valued at $1,718,832.61. The trade was a 43.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

Macerich 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.