Public Employees Retirement System of Ohio Purchases 10,049 Shares of Macerich Company (The) $MAC

Public Employees Retirement System of Ohio boosted its holdings in Macerich Company (The) (NYSE:MAC) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 379,277 shares of the real estate investment trust’s stock after purchasing an additional 10,049 shares during the period. Public Employees Retirement System of Ohio owned about 0.15% of Macerich worth $6,137,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Fifth Third Bancorp raised its stake in shares of Macerich by 47.7% in the second quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 972 shares during the period. Nicola Wealth Management LTD. lifted its position in shares of Macerich by 19.8% during the first quarter. Nicola Wealth Management LTD. now owns 47,764 shares of the real estate investment trust’s stock worth $820,000 after acquiring an additional 7,880 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of Macerich by 15.6% in the first quarter. Inspire Investing LLC now owns 23,329 shares of the real estate investment trust’s stock worth $401,000 after acquiring an additional 3,153 shares during the period. Invst LLC purchased a new position in shares of Macerich in the first quarter valued at $720,000. Finally, Strs Ohio purchased a new position in shares of Macerich in the first quarter valued at $797,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

MAC has been the subject of several research analyst reports. Mizuho raised Macerich from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from $22.00 to $18.00 in a research note on Tuesday, June 10th. LADENBURG THALM/SH SH assumed coverage on shares of Macerich in a research report on Friday, July 18th. They set a “buy” rating and a $25.00 target price for the company. Bank of America upgraded Macerich from a “neutral” rating to a “buy” rating and increased their price objective for the company from $19.00 to $23.00 in a research report on Friday. JPMorgan Chase & Co. raised their price objective on Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Wednesday, August 27th. Finally, Truist Financial raised their price target on shares of Macerich from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.11.

Macerich Stock Up 6.5%

MAC stock opened at $17.86 on Monday. The firm has a market cap of $4.51 billion, a PE ratio of -10.20, a price-to-earnings-growth ratio of 3.48 and a beta of 2.27. The business has a 50 day moving average of $17.56 and a 200 day moving average of $16.39. Macerich Company has a twelve month low of $12.48 and a twelve month high of $22.27. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.00.

Macerich (NYSE:MAC) last released its quarterly earnings data on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The firm had revenue of $249.79 million for the quarter, compared to the consensus estimate of $245.19 million. Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. On average, research analysts forecast that Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 9th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 9th. Macerich’s dividend payout ratio (DPR) is presently -38.86%.

About Macerich

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.