Louisiana State Employees Retirement System Boosts Holdings in The Macerich Company (NYSE:MAC)

Louisiana State Employees Retirement System raised its holdings in shares of The Macerich Company (NYSE:MAC - Free Report) by 13.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,700 shares of the real estate investment trust's stock after purchasing an additional 14,300 shares during the quarter. Louisiana State Employees Retirement System's holdings in Macerich were worth $2,365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smead Capital Management Inc. grew its stake in shares of Macerich by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust's stock worth $372,706,000 after acquiring an additional 688,790 shares in the last quarter. FMR LLC grew its stake in shares of Macerich by 12,475.9% in the 3rd quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust's stock worth $214,738,000 after acquiring an additional 11,679,276 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Macerich by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust's stock worth $99,004,000 after acquiring an additional 34,982 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Macerich by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,801,369 shares of the real estate investment trust's stock worth $87,577,000 after acquiring an additional 113,128 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Macerich by 1.1% in the 3rd quarter. Fisher Asset Management LLC now owns 2,995,741 shares of the real estate investment trust's stock worth $54,642,000 after acquiring an additional 31,586 shares in the last quarter. Institutional investors own 87.38% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MAC shares. Compass Point upped their target price on shares of Macerich from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Piper Sandler boosted their price target on shares of Macerich from $14.00 to $17.00 and gave the stock an "underweight" rating in a report on Wednesday, December 11th. Scotiabank raised shares of 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. StockNews.com downgraded shares of Macerich from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group upgraded shares of Macerich from a "hold" rating to a "buy" rating and increased their target price for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $19.30.

Macerich Price Performance

Shares of MAC stock traded up $0.26 during trading hours on Tuesday, reaching $20.76. The stock had a trading volume of 364,728 shares, compared to its average volume of 1,532,459. The stock's fifty day simple moving average is $20.38 and its 200 day simple moving average is $18.63. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 12 month low of $12.99 and a 12 month high of $22.27. The firm has a market capitalization of $5.16 billion, a PE ratio of 53.24, a PEG ratio of 0.72 and a beta of 2.50.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.28%. Macerich's dividend payout ratio (DPR) is currently 174.36%.

Insider Activity

In related news, Director Andrea M. Stephen sold 63,289 shares of the firm's stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total value of $1,303,120.51. Following the sale, the director now directly owns 83,479 shares of the company's stock, 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 document filed with the SEC, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

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.