Maryland State Retirement & Pension System Boosts Stock Position in The Macerich Company (NYSE:MAC)

Maryland State Retirement & Pension System raised its stake in shares of The Macerich Company (NYSE:MAC) by 13.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,684 shares of the real estate investment trust’s stock after acquiring an additional 9,746 shares during the period. Maryland State Retirement & Pension System’s holdings in Macerich were worth $1,647,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MAC. Blue Trust Inc. raised its stake in shares of Macerich by 68.8% during the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC raised its stake 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 worth $69,000 after buying an additional 2,630 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Macerich by 36.5% during the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock worth $87,000 after buying an additional 1,174 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Macerich during the 4th quarter worth approximately $99,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Macerich during the 4th quarter worth approximately $212,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the transaction, the director now owns 83,479 shares of the company’s stock, valued at $1,718,832.61. This represents a 43.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

MAC has been the topic of a number of research reports. The Goldman Sachs Group lowered their price target on Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a report on Monday, March 10th. Morgan Stanley upgraded Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price target on the stock in a report on Wednesday, January 15th. Scotiabank lowered their price target on Macerich from $22.00 to $21.00 and set a “sector perform” rating on the stock in a report on Thursday, March 6th. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and upped their price target for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Finally, Piper Sandler lowered their price target on Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, February 28th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.03.

Macerich Trading Down 0.1 %

Shares of Macerich stock opened at $17.27 on Friday. The Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. The firm has a market cap of $4.36 billion, a PE ratio of 44.27, a P/E/G ratio of 0.71 and a beta of 2.62. The business’s fifty day moving average is $19.25 and its two-hundred day moving average is $19.08. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich’s dividend payout ratio is presently -86.08%.

Macerich Company 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.