203,500 Shares in The Macerich Company (NYSE:MAC) Acquired by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co purchased a new stake in shares of The Macerich Company (NYSE:MAC) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 203,500 shares of the real estate investment trust’s stock, valued at approximately $4,054,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Envestnet Asset Management Inc. increased its position in shares of Macerich by 4.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 328,694 shares of the real estate investment trust’s stock valued at $6,548,000 after acquiring an additional 15,362 shares during the period. Wells Fargo & Company MN grew its stake in Macerich by 29.6% during the 4th quarter. Wells Fargo & Company MN now owns 176,861 shares of the real estate investment trust’s stock valued at $3,523,000 after purchasing an additional 40,357 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Macerich in the fourth quarter valued at about $1,974,000. Geode Capital Management LLC raised its stake in shares of Macerich by 10.6% in the fourth quarter. Geode Capital Management LLC now owns 6,001,399 shares of the real estate investment trust’s stock worth $119,573,000 after purchasing an additional 574,490 shares during the last quarter. Finally, Summit Financial LLC acquired a new stake in shares of Macerich during the fourth quarter worth about $549,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MAC shares. Truist Financial cut their price target on shares of Macerich from $23.00 to $19.00 and set a “hold” rating on the stock in a report on Tuesday, April 1st. JPMorgan Chase & Co. reduced their target price on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a report on Monday, March 10th. The Goldman Sachs Group lowered their price target on shares of Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a report on Monday, March 10th. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and lifted their price objective for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. Finally, Scotiabank lowered their target price on Macerich from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 6th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.37.

Macerich Stock Performance

Shares of MAC stock opened at $14.52 on Friday. 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 12-month low of $12.99 and a 12-month high of $22.27. The business’s 50 day moving average is $18.67 and its two-hundred day moving average is $19.18. The company has a market capitalization of $3.67 billion, a P/E ratio of 37.23, a P/E/G ratio of 0.71 and a beta of 2.17.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.68%. Macerich’s dividend payout ratio (DPR) is -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.