Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Position in The Macerich Company (NYSE:MAC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in The Macerich Company (NYSE:MAC - Free Report) by 53.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 approximately 0.05% of Macerich worth $2,569,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. raised its position in Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Macerich by 314.2% in the fourth 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 period. GAMMA Investing LLC boosted its position in 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 buying an additional 1,174 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Macerich in the 4th quarter worth $99,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Macerich during the fourth quarter valued at about $212,000. Hedge funds and other institutional investors own 87.38% of the company's stock.

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Analysts Set New Price Targets

MAC has been the topic of several research analyst reports. Piper Sandler reduced their target price on Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered their price objective on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a report on Monday, March 10th. The Goldman Sachs Group reduced their price target on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research note on Monday, March 10th. Jefferies Financial Group upgraded shares of Macerich from a "hold" rating to a "buy" rating and upped their price objective for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Finally, Scotiabank dropped their price target on Macerich from $22.00 to $21.00 and set a "sector perform" rating on the stock in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Macerich currently has an average rating of "Hold" and an average target price of $19.49.

Macerich Stock Performance

Macerich stock traded down $0.19 during mid-day trading on Friday, reaching $17.10. 995,480 shares of the stock traded hands, compared to its average volume of 1,896,091. The stock has a market capitalization of $4.32 billion, a PE ratio of 43.85, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The business's 50-day moving average is $19.04 and its 200-day moving average is $19.15. The Macerich Company has a 12-month low of $12.99 and a 12-month high of $22.27.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 3.98%. Macerich's dividend payout ratio (DPR) 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.