Resona Asset Management Co. Ltd. Buys Shares of 98,099 The Macerich Company (NYSE:MAC)

Resona Asset Management Co. Ltd. bought a new stake in The Macerich Company (NYSE:MAC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 98,099 shares of the real estate investment trust’s stock, valued at approximately $1,974,000.

Several other large investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in Macerich by 845.9% in the 4th quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust’s stock valued at $200,222,000 after purchasing an additional 8,988,665 shares in the last quarter. Vanguard Group Inc. raised its position in Macerich by 13.2% in the 4th quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust’s stock valued at $769,260,000 after purchasing an additional 4,503,509 shares in the last quarter. Prudential Financial Inc. raised its position in Macerich by 463.6% in the 4th quarter. Prudential Financial Inc. now owns 2,590,689 shares of the real estate investment trust’s stock valued at $51,607,000 after purchasing an additional 2,131,030 shares in the last quarter. JPMorgan Chase & Co. raised its position in Macerich by 77.7% in the 4th quarter. JPMorgan Chase & Co. now owns 3,812,987 shares of the real estate investment trust’s stock valued at $75,955,000 after purchasing an additional 1,667,066 shares in the last quarter. Finally, Burkehill Global Management LP acquired a new stake in Macerich in the 4th quarter valued at about $19,920,000. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MAC shares. Truist Financial cut their target price on Macerich from $23.00 to $19.00 and set a “hold” rating on the stock in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft started coverage on Macerich in a research report on Tuesday, December 17th. They set a “hold” rating and a $22.00 target price on the stock. Morgan Stanley cut their target price on Macerich from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. JPMorgan Chase & Co. cut their target price on Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a research report on Monday, March 10th. Finally, Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and raised their target price for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.37.

Macerich Stock Performance

Shares of NYSE:MAC opened at $14.93 on Thursday. The firm 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 debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50-day moving average of $18.00 and a two-hundred day moving average of $19.05. The Macerich Company has a 12 month low of $12.48 and a 12 month high of $22.27.

Macerich Dividend Announcement

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

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.