Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $2.57 Million Holdings in The Macerich Company (NYSE:MAC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in The Macerich Company (NYSE:MAC) by 53.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,978 shares of the real estate investment trust’s stock after purchasing an additional 45,195 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.05% of Macerich worth $2,569,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,064 shares during the period. Smartleaf Asset Management LLC increased its stake in Macerich by 314.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 2,630 shares during the period. GAMMA Investing LLC raised its holdings in Macerich by 36.5% in the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 1,174 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Macerich during the 4th quarter valued at $99,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Macerich during the 4th quarter worth $212,000. Institutional investors own 87.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MAC. Morgan Stanley raised Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price target for the company in a research note on Wednesday, January 15th. Piper Sandler dropped their target price on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, February 28th. Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Scotiabank lowered their price objective on shares of Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a research report on Thursday, March 6th. Finally, Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and raised their target price for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.20.

Macerich Price Performance

Macerich stock opened at $17.79 on Tuesday. The stock has a 50-day moving average price of $19.22 and a two-hundred day moving average price of $19.15. The Macerich Company has a 12 month low of $12.99 and a 12 month high of $22.27. The company has a market capitalization of $4.49 billion, a PE ratio of 45.62, a P/E/G ratio of 0.71 and a beta of 2.62. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors 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 annualized dividend and a yield of 3.82%. Macerich’s dividend payout ratio is presently -86.08%.

Insiders Place Their Bets

In other news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the transaction, the director now owns 83,479 shares in the company, valued at approximately $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

Macerich 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.