Macerich Company (The) $MAC Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Macerich Company (The) (NYSE:MAC) by 3.9% during the 2nd quarter, Holdings Channel reports. The firm owned 179,611 shares of the real estate investment trust’s stock after acquiring an additional 6,810 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Macerich were worth $2,906,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. lifted its stake in shares of Macerich by 40.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,130,323 shares of the real estate investment trust’s stock worth $105,258,000 after buying an additional 1,754,466 shares during the period. Northern Trust Corp increased its position in shares of Macerich by 3.6% in the 1st quarter. Northern Trust Corp now owns 4,357,185 shares of the real estate investment trust’s stock valued at $74,813,000 after acquiring an additional 151,295 shares during the period. PGGM Investments raised its stake in Macerich by 15.9% in the 2nd quarter. PGGM Investments now owns 4,022,858 shares of the real estate investment trust’s stock worth $65,090,000 after acquiring an additional 552,194 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Macerich by 4.6% during the 1st quarter. Ameriprise Financial Inc. now owns 3,432,879 shares of the real estate investment trust’s stock worth $58,943,000 after acquiring an additional 152,221 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Macerich by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,246,236 shares of the real estate investment trust’s stock valued at $36,344,000 after purchasing an additional 124,596 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Trading Down 1.6%

Shares of NYSE:MAC opened at $17.27 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.00. Macerich Company has a 12-month low of $12.48 and a 12-month high of $22.27. The business has a 50 day moving average of $17.59 and a two-hundred day moving average of $16.84. The company has a market capitalization of $4.42 billion, a PE ratio of -9.87, a PEG ratio of 2.96 and a beta of 2.25.

Macerich (NYSE:MAC) last issued its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $253.26 million for the quarter, compared to analyst estimates of $246.77 million. Macerich had a negative return on equity of 15.15% and a negative net margin of 41.33%.Macerich’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 EPS. As a group, analysts forecast that Macerich Company will post 1.55 EPS for the current year.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Monday, December 15th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.68 dividend on an annualized basis and a yield of 3.9%. Macerich’s payout ratio is presently -42.77%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MAC shares. Weiss Ratings restated a “sell (d+)” rating on shares of Macerich in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Macerich from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday, August 27th. Wall Street Zen lowered shares of Macerich from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Bank of America raised shares of Macerich from a “neutral” rating to a “buy” rating and upped their price objective for the company from $19.00 to $23.00 in a report on Friday, September 26th. Finally, Scotiabank raised their target price on shares of Macerich from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.95.

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.