203,500 Shares in The Macerich Company (NYSE:MAC) Purchased by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co bought a new position in The Macerich Company (NYSE:MAC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 203,500 shares of the real estate investment trust's stock, valued at approximately $4,054,000. Ilmarinen Mutual Pension Insurance Co owned about 0.08% of Macerich as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Friedenthal Financial bought a new stake in Macerich during the fourth quarter valued at approximately $771,000. Smartleaf Asset Management LLC grew its position in shares of 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 valued at $69,000 after acquiring an additional 2,630 shares during the period. Van ECK Associates Corp increased its stake in shares of Macerich by 20.4% in the 4th quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust's stock worth $893,000 after purchasing an additional 7,608 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Macerich by 2.2% in the 4th quarter. New York State Teachers Retirement System now owns 183,508 shares of the real estate investment trust's stock worth $3,655,000 after purchasing an additional 3,979 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Macerich by 7.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,162,987 shares of the real estate investment trust's stock valued at $43,087,000 after purchasing an additional 142,566 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company's stock.

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Macerich Price Performance

Shares of NYSE MAC traded down $0.69 during mid-day trading on Friday, hitting $13.64. 859,246 shares of the company's stock traded hands, compared to its average volume of 1,974,438. The company has a market capitalization of $3.44 billion, a P/E ratio of 34.89, a PEG ratio of 0.71 and a beta of 2.17. The Macerich Company has a 1 year low of $12.48 and a 1 year high of $22.27. 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 company's 50-day moving average is $17.88 and its two-hundred day moving average is $19.03.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued 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 4.99%. Macerich's payout ratio is presently -86.08%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MAC. Truist Financial raised Macerich from a "hold" rating to a "buy" rating and set a $19.00 price objective on the stock in a research note on Thursday. The Goldman Sachs Group lowered their price target on shares of Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a report on Monday, March 10th. Morgan Stanley reduced their price objective on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft began coverage on Macerich in a research note on Tuesday, December 17th. They issued a "hold" rating and a $22.00 price target for the company. Finally, Scotiabank lowered their price objective 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 research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $19.37.

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.