Illinois Municipal Retirement Fund Increases Stake in The Macerich Company (NYSE:MAC)

Illinois Municipal Retirement Fund lifted its stake in The Macerich Company (NYSE:MAC) by 11.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,166 shares of the real estate investment trust’s stock after purchasing an additional 12,928 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of Macerich worth $2,493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MAC. Blue Trust Inc. lifted its holdings in Macerich by 152.2% during the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 933 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Macerich by 36.5% during the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 1,174 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Macerich during the 4th quarter valued at $99,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Macerich by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 2,161 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in Macerich in the 4th quarter worth $212,000. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Macerich in a research report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price objective on the stock. Scotiabank raised Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price target on the stock in a report on Tuesday, December 17th. Compass Point increased their price objective on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. Finally, Jefferies Financial Group upgraded shares of Macerich from a “hold” rating to a “buy” rating and upped their target price for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.30.

Macerich Stock Performance

Shares of NYSE:MAC opened at $18.29 on Friday. The firm has a fifty day simple moving average of $20.21 and a two-hundred day simple moving average of $18.86. The Macerich Company has a 52 week low of $12.99 and a 52 week high of $22.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $4.55 billion, a P/E ratio of 46.90, a PEG ratio of 0.71 and a beta of 2.50.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a yield of 3.72%. Macerich’s dividend payout ratio (DPR) is presently 174.36%.

Insider Transactions at Macerich

In related news, Director Andrea M. Stephen sold 63,289 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total value of $1,303,120.51. Following the completion of the sale, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.53% of the company’s stock.

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.