Mirae Asset Global Investments Co. Ltd. Lowers Stake in The Macerich Company (NYSE:MAC)

Mirae Asset Global Investments Co. Ltd. cut its position in The Macerich Company (NYSE:MAC) by 17.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,935 shares of the real estate investment trust’s stock after selling 1,439 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Macerich were worth $140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smead Capital Management Inc. increased its stake in Macerich by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock worth $372,706,000 after buying an additional 688,790 shares in the last quarter. FMR LLC boosted its stake in shares of Macerich by 12,475.9% in the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock worth $214,738,000 after acquiring an additional 11,679,276 shares during the period. Geode Capital Management LLC grew its position in shares of Macerich by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust’s stock worth $99,004,000 after purchasing an additional 34,982 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Macerich by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,801,369 shares of the real estate investment trust’s stock valued at $87,577,000 after purchasing an additional 113,128 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Macerich by 1.1% in the 3rd quarter. Fisher Asset Management LLC now owns 2,995,741 shares of the real estate investment trust’s stock worth $54,642,000 after purchasing an additional 31,586 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.

Macerich Trading Up 1.5 %

Shares of NYSE MAC opened at $20.79 on Friday. The Macerich Company has a 1-year low of $12.99 and a 1-year high of $22.27. 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’s 50 day moving average is $20.44 and its two-hundred day moving average is $18.53. The stock has a market capitalization of $5.17 billion, a P/E ratio of 53.30, a PEG ratio of 0.72 and a beta of 2.50.

Insider Transactions at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.59, for a total value of $1,303,120.51. Following the completion of the sale, the director now owns 83,479 shares in the company, valued at approximately $1,718,832.61. This trade represents a 43.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

MAC has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock in a research report on Wednesday, January 15th. Scotiabank upgraded shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price target on the stock in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a research note on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price target on the stock. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.30.

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.