Allstate Corp Has $2.66 Million Stock Holdings in The Macerich Company (NYSE:MAC)

Allstate Corp grew its holdings in shares of The Macerich Company (NYSE:MAC) by 8.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 133,360 shares of the real estate investment trust’s stock after acquiring an additional 10,890 shares during the period. Allstate Corp’s holdings in Macerich were worth $2,657,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. M&T Bank Corp lifted its position in Macerich by 2.8% in the 4th quarter. M&T Bank Corp now owns 20,228 shares of the real estate investment trust’s stock valued at $403,000 after acquiring an additional 543 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of Macerich by 5.7% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 12,234 shares of the real estate investment trust’s stock worth $244,000 after purchasing an additional 665 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Macerich by 0.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust’s stock valued at $5,029,000 after purchasing an additional 700 shares in the last quarter. Townsquare Capital LLC boosted its position in shares of Macerich by 7.2% during the third quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock valued at $245,000 after buying an additional 902 shares during the last quarter. Finally, Custom Index Systems LLC grew its holdings in Macerich by 8.7% during the fourth quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust’s stock worth $232,000 after buying an additional 928 shares in the last quarter. 87.38% of the stock is owned by institutional investors.

Macerich Price Performance

Shares of NYSE MAC opened at $17.10 on Friday. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 43.85, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. The stock has a fifty day simple moving average of $19.04 and a two-hundred day simple moving average of $19.18. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 1-year low of $12.99 and a 1-year high of $22.27.

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 paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Tuesday, March 4th. Macerich’s dividend payout ratio is currently -86.08%.

Analysts Set New Price Targets

Several equities analysts have weighed in on MAC shares. Piper Sandler dropped their price objective on Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, February 28th. Scotiabank cut their price target on shares of 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 shares of Macerich from a “hold” rating to a “buy” rating and increased their price objective for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. 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 note on Monday, March 10th. Finally, The Goldman Sachs Group decreased their price target on Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a research report on Monday, March 10th. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.49.

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.