UniSuper Management Pty Ltd Grows Stock Holdings in The Macerich Company (NYSE:MAC)

UniSuper Management Pty Ltd raised its stake in shares of The Macerich Company (NYSE:MAC) by 10.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,035 shares of the real estate investment trust’s stock after acquiring an additional 6,500 shares during the period. UniSuper Management Pty Ltd’s holdings in Macerich were worth $1,335,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new stake in shares of Macerich during the fourth quarter worth approximately $30,000. Blue Trust Inc. increased its stake in Macerich by 68.8% in the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,064 shares during the period. Smartleaf Asset Management LLC raised its position 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 buying an additional 2,630 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Macerich by 36.5% in the fourth 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. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Macerich during the fourth quarter worth about $99,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MAC shares. Deutsche Bank Aktiengesellschaft initiated coverage on Macerich in a report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price objective on the stock. Scotiabank decreased their price target on Macerich from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 6th. JPMorgan Chase & Co. cut their price objective on Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a research report on Monday, March 10th. Morgan Stanley upgraded shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective for the company in a research note on Wednesday, January 15th. Finally, Piper Sandler lowered their target price on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, February 28th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.49.

Macerich Stock Performance

NYSE MAC opened at $17.10 on Monday. 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 Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. The business has a fifty day moving average of $19.04 and a 200-day moving average of $19.20. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 43.85, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.98%. The ex-dividend date was Tuesday, March 4th. Macerich’s payout ratio is -86.08%.

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.