The Macerich Company (NYSE:MAC) Stock Position Raised by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in The Macerich Company (NYSE:MAC) by 20.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 136,964 shares of the real estate investment trust’s stock after acquiring an additional 23,310 shares during the period. New York State Common Retirement Fund’s holdings in Macerich were worth $2,113,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Signaturefd LLC lifted its holdings in shares of Macerich by 152.4% in the 4th quarter. Signaturefd LLC now owns 2,166 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,308 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Macerich during the third quarter valued at $36,000. Anchor Investment Management LLC bought a new position in shares of Macerich during the fourth quarter worth about $40,000. Advisor Partners II LLC increased its holdings in shares of Macerich by 32.8% in the 3rd quarter. Advisor Partners II LLC now owns 13,547 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 3,346 shares during the period. Finally, Independent Wealth Network Inc. acquired a new stake in shares of Macerich in the 4th quarter worth about $171,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on MAC shares. Truist Financial restated a “hold” rating and issued a $16.00 target price on shares of Macerich in a research report on Monday, March 25th. Compass Point lowered their target price on Macerich from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Citigroup upgraded Macerich from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. Finally, Mizuho reduced their price objective on shares of Macerich from $17.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.83.

Insider Buying and Selling

In other news, President Edward C. Coppola sold 50,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total transaction of $860,000.00. Following the completion of the sale, the president now owns 655,667 shares in the company, valued at approximately $11,277,472.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Hern Thomas E. O sold 95,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $16.94, for a total transaction of $1,609,300.00. Following the sale, the director now owns 102,900 shares in the company, valued at $1,743,126. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Edward C. Coppola sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total transaction of $860,000.00. Following the completion of the transaction, the president now directly owns 655,667 shares of the company’s stock, valued at approximately $11,277,472.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,964 shares of company stock worth $2,940,030. Corporate insiders own 0.53% of the company’s stock.

Macerich Trading Up 3.8 %

Shares of Macerich stock opened at $15.24 on Wednesday. The business has a fifty day simple moving average of $15.99 and a 200-day simple moving average of $14.75. The Macerich Company has a fifty-two week low of $9.05 and a fifty-two week high of $17.69. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of -9.77, a price-to-earnings-growth ratio of 1.64 and a beta of 2.38. The company has a quick ratio of 0.95, a current ratio of 1.03 and a debt-to-equity ratio of 1.85.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.26). The business had revenue of $238.70 million during the quarter, compared to analyst estimates of $224.49 million. Macerich had a negative net margin of 38.96% and a negative return on equity of 13.42%. Macerich’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 earnings per share. On average, equities analysts forecast that The Macerich Company will post 1.77 EPS for the current fiscal year.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.46%. The ex-dividend date is Friday, May 17th. Macerich’s dividend payout ratio is presently -43.59%.

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.