Vestcor Inc Grows Stock Holdings in The Macerich Company (NYSE:MAC)

Vestcor Inc increased its position in The Macerich Company (NYSE:MAC - Free Report) by 91.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 193,777 shares of the real estate investment trust's stock after buying an additional 92,551 shares during the period. Vestcor Inc owned about 0.09% of Macerich worth $3,534,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its stake in shares of Macerich by 0.7% in the third quarter. Public Employees Retirement System of Ohio now owns 314,000 shares of the real estate investment trust's stock worth $5,727,000 after acquiring an additional 2,322 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Macerich by 0.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust's stock worth $5,029,000 after purchasing an additional 700 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Macerich during the 3rd quarter valued at approximately $1,131,000. XTX Topco Ltd bought a new stake in shares of Macerich during the third quarter valued at approximately $816,000. Finally, Brookfield Corp ON purchased a new position in shares of Macerich in the third quarter worth $9,217,000. Hedge funds and other institutional investors own 87.38% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Macerich from $14.00 to $17.00 and gave the company an "underweight" rating in a research note on Wednesday. Bank of America lifted their target price on Macerich from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Friday, October 11th. Compass Point increased their price target on Macerich from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on Macerich from $13.00 to $14.60 and gave the stock a "sell" rating in a research note on Thursday, September 19th. Finally, Evercore ISI increased their target price on Macerich from $15.00 to $16.00 and gave the company an "in-line" rating in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $17.62.

Macerich Trading Up 0.0 %

MAC traded up $0.01 during trading on Wednesday, reaching $21.34. The company had a trading volume of 1,380,618 shares, compared to its average volume of 1,869,900. 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 52 week low of $12.99 and a 52 week high of $22.27. The stock has a market cap of $5.30 billion, a P/E ratio of 54.71, a PEG ratio of 0.77 and a beta of 2.51. The business has a 50 day simple moving average of $19.38 and a 200-day simple moving average of $16.90.

Macerich (NYSE:MAC - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The firm had revenue of $220.20 million for the quarter, compared to analysts' expectations of $208.54 million. During the same period in the prior year, the firm posted $0.44 earnings per share. Macerich's revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts anticipate that The Macerich Company will post 1.56 EPS for the current fiscal year.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a $0.17 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.68 annualized dividend and a dividend yield of 3.19%. Macerich's payout ratio is 174.36%.

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.