State of New Jersey Common Pension Fund D Buys 41,219 Shares of The Macerich Company (NYSE:MAC)

State of New Jersey Common Pension Fund D boosted its stake in The Macerich Company (NYSE:MAC – Get Rating) by 20.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 239,276 shares of the real estate investment trust’s stock after acquiring an additional 41,219 shares during the period. State of New Jersey Common Pension Fund D owned 0.11% of Macerich worth $1,900,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Macerich by 0.3% in the second quarter. State Street Corp now owns 12,947,160 shares of the real estate investment trust’s stock valued at $112,770,000 after acquiring an additional 43,116 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Macerich by 1,536.8% during the 1st quarter. Prudential Financial Inc. now owns 4,783,022 shares of the real estate investment trust’s stock valued at $74,806,000 after buying an additional 4,490,809 shares in the last quarter. Letko Brosseau & Associates Inc. boosted its holdings in shares of Macerich by 13.9% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 3,458,120 shares of the real estate investment trust’s stock valued at $30,120,000 after buying an additional 421,025 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Macerich by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,811,265 shares of the real estate investment trust’s stock valued at $43,969,000 after buying an additional 76,691 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Macerich by 103.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,766,340 shares of the real estate investment trust’s stock valued at $23,542,000 after buying an additional 1,409,191 shares in the last quarter. Institutional investors own 80.81% of the company’s stock.

Insider Buying and Selling at Macerich

In related news, CAO Christopher J. Zecchini sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $12.65, for a total transaction of $25,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,458 shares in the company, valued at approximately $94,343.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.77% of the company’s stock.

Macerich Price Performance

Shares of NYSE:MAC opened at $12.46 on Friday. The Macerich Company has a fifty-two week low of $7.40 and a fifty-two week high of $17.63. The business has a 50-day simple moving average of $12.24 and a two-hundred day simple moving average of $10.68. 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 firm has a market cap of $2.68 billion, a price-to-earnings ratio of -31.95, a price-to-earnings-growth ratio of 2.52 and a beta of 2.04.

Macerich Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 2nd. Shareholders of record on Wednesday, November 9th were given a $0.17 dividend. This is a positive change from Macerich’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, November 8th. This represents a $0.68 dividend on an annualized basis and a yield of 5.46%. Macerich’s payout ratio is -174.36%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. TheStreet upgraded shares of Macerich from a “d+” rating to a “c-” rating in a report on Thursday, November 17th. Truist Financial boosted their target price on shares of Macerich from $13.00 to $15.00 in a report on Friday, December 16th. Evercore ISI dropped their target price on shares of Macerich from $13.00 to $11.00 and set an “in-line” rating on the stock in a report on Tuesday, September 27th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Macerich from $13.00 to $16.00 in a report on Monday, December 5th. Finally, StockNews.com initiated coverage on Macerich in a research report on Wednesday, October 12th. They issued a “sell” rating for the company. Six equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Macerich has an average rating of “Hold” and an average price target of $12.65.

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.