Norinchukin Bank The Buys New Stake in The Macerich Company (NYSE:MAC)

Norinchukin Bank The purchased a new position in The Macerich Company (NYSE:MAC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,853 shares of the real estate investment trust’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Friedenthal Financial purchased a new stake in Macerich during the fourth quarter valued at $771,000. Smartleaf Asset Management LLC raised its position in shares of Macerich by 314.2% during the 4th 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. Van ECK Associates Corp lifted its holdings in shares of Macerich by 20.4% in the 4th quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust’s stock valued at $893,000 after acquiring an additional 7,608 shares during the last quarter. New York State Teachers Retirement System grew its position in Macerich by 2.2% in the fourth quarter. New York State Teachers Retirement System now owns 183,508 shares of the real estate investment trust’s stock worth $3,655,000 after acquiring an additional 3,979 shares in the last quarter. Finally, FIL Ltd increased its stake in Macerich by 4.7% during the fourth quarter. FIL Ltd now owns 1,158,518 shares of the real estate investment trust’s stock worth $23,078,000 after acquiring an additional 51,994 shares during the last quarter. Institutional investors own 87.38% of the company’s stock.

Macerich Trading Up 1.2 %

Shares of NYSE MAC opened at $14.39 on Thursday. The Macerich Company has a twelve month low of $12.48 and a twelve month high of $22.27. The firm has a market cap of $3.63 billion, a PE ratio of 36.89, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17. The business has a fifty day simple moving average of $16.74 and a two-hundred day simple moving average of $18.81. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 4.73%. Macerich’s payout ratio is currently -86.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and raised their price objective for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. Piper Sandler dropped their price objective on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, February 28th. Scotiabank reduced their target price on shares of Macerich from $21.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Truist Financial raised shares of Macerich from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group decreased their price objective on shares of Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a research note on Monday, March 10th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Macerich has a consensus rating of “Hold” and a consensus price target of $18.95.

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.