Mitsubishi UFJ Trust & Banking Corp Has $304,000 Stake in The Macerich Company (NYSE:MAC)

Mitsubishi UFJ Trust & Banking Corp decreased its position in The Macerich Company (NYSE:MACGet Rating) by 23.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,926 shares of the real estate investment trust’s stock after selling 10,709 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Macerich were worth $304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pictet Asset Management SA grew its position in shares of Macerich by 7.8% in the second quarter. Pictet Asset Management SA now owns 89,588 shares of the real estate investment trust’s stock valued at $780,000 after purchasing an additional 6,501 shares during the last quarter. SeaCrest Wealth Management LLC grew its position in Macerich by 14.0% during the second quarter. SeaCrest Wealth Management LLC now owns 75,733 shares of the real estate investment trust’s stock worth $660,000 after buying an additional 9,298 shares in the last quarter. Texas Permanent School Fund grew its position in Macerich by 2.6% during the second quarter. Texas Permanent School Fund now owns 154,914 shares of the real estate investment trust’s stock worth $1,349,000 after buying an additional 3,880 shares in the last quarter. M&T Bank Corp grew its position in Macerich by 18.1% during the second quarter. M&T Bank Corp now owns 18,185 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 2,788 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in Macerich by 19.8% during the second quarter. State of New Jersey Common Pension Fund D now owns 198,057 shares of the real estate investment trust’s stock worth $1,725,000 after buying an additional 32,773 shares in the last quarter. Institutional investors and hedge funds own 83.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MAC. Evercore ISI reduced their price target on Macerich from $13.00 to $11.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 27th. Deutsche Bank Aktiengesellschaft reduced their price target on Macerich from $17.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, October 4th. TheStreet raised Macerich from a “d+” rating to a “c-” rating in a research report on Thursday, November 17th. Mizuho reduced their target price on Macerich from $18.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, August 3rd. Finally, StockNews.com assumed coverage on Macerich in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. Seven research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Macerich has an average rating of “Hold” and an average price target of $12.86.

Macerich Stock Up 1.0 %

Shares of MAC opened at $13.14 on Wednesday. The Macerich Company has a 52 week low of $7.40 and a 52 week high of $21.70. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -33.69, a PEG ratio of 2.01 and a beta of 2.06. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a fifty day moving average of $10.09 and a 200-day moving average of $10.27.

Macerich Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Wednesday, November 9th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.18%. This is a boost from Macerich’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, November 8th. Macerich’s dividend payout ratio is presently -174.36%.

Insider Activity

In other news, CEO Hern Thomas E. O purchased 11,100 shares of the company’s stock in a transaction dated Friday, September 16th. The stock was bought at an average cost of $8.97 per share, for a total transaction of $99,567.00. Following the purchase, the chief executive officer now owns 173,980 shares of the company’s stock, valued at $1,560,600.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Hern Thomas E. O purchased 11,100 shares of the company’s stock in a transaction dated Friday, September 16th. The stock was bought at an average cost of $8.97 per share, for a total transaction of $99,567.00. Following the purchase, the chief executive officer now owns 173,980 shares of the company’s stock, valued at $1,560,600.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kenneth Volk bought 10,000 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were bought at an average cost of $7.58 per share, with a total value of $75,800.00. Following the completion of the transaction, the executive vice president now owns 46,924 shares in the company, valued at $355,683.92. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 104,617 shares of company stock worth $853,909. Insiders own 1.77% of the company’s stock.

Macerich Profile

(Get Rating)

Macerich is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.

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Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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