The Macerich Company (NYSE:MAC) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its holdings in shares of The Macerich Company (NYSE:MAC - Free Report) by 216.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 221,153 shares of the real estate investment trust's stock after purchasing an additional 151,253 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.09% of Macerich worth $4,405,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in shares of Macerich during the 4th quarter valued at $30,000. Blue Trust Inc. lifted 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 valued at $48,000 after purchasing an additional 1,064 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Macerich by 314.2% in 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 purchasing an additional 2,630 shares during the period. GAMMA Investing LLC increased its stake 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 worth $87,000 after purchasing an additional 1,174 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Macerich during the 4th quarter worth about $99,000. 87.38% of the stock is currently owned by institutional investors.

Macerich Stock Up 0.6 %

Shares of Macerich stock opened at $14.19 on Wednesday. The stock has a 50-day simple moving average of $16.86 and a 200-day simple moving average of $18.84. The Macerich Company has a 52-week low of $12.48 and a 52-week high of $22.27. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 36.39, a P/E/G ratio of 0.71 and a beta of 2.17. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich's dividend payout ratio is -86.08%.

Wall Street Analyst Weigh In

MAC has been the subject of several recent analyst reports. Truist Financial upgraded shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 target price for the company in a report on Thursday, April 10th. The Goldman Sachs Group decreased their price objective on shares of Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday, March 10th. JPMorgan Chase & Co. cut their target price on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research note on Monday, March 10th. Piper Sandler decreased their target price on Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, February 28th. Finally, Morgan Stanley dropped their price target on Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Macerich has a consensus rating of "Hold" and a consensus price target of $19.37.

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.

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