Maryland State Retirement & Pension System Has $661,000 Stake in Macerich Company (The) $MAC

Maryland State Retirement & Pension System lowered its position in Macerich Company (The) (NYSE:MAC) by 51.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,336 shares of the real estate investment trust’s stock after selling 37,914 shares during the period. Maryland State Retirement & Pension System’s holdings in Macerich were worth $661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fifth Third Bancorp increased its holdings in Macerich by 47.7% during the 2nd quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 972 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Macerich by 14.8% during the third quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust’s stock worth $98,000 after purchasing an additional 691 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Macerich by 16.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,205 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 858 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Macerich in the second quarter valued at $191,000. Finally, Inspire Advisors LLC raised its holdings in shares of Macerich by 14.4% in the second quarter. Inspire Advisors LLC now owns 11,858 shares of the real estate investment trust’s stock valued at $192,000 after buying an additional 1,489 shares during the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Bank of America raised shares of Macerich from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $19.00 to $23.00 in a report on Friday, September 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Macerich in a research note on Wednesday, October 8th. Truist Financial boosted their price objective on shares of Macerich from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $21.00 price objective on shares of Macerich in a report on Monday, December 15th. Finally, Scotiabank lifted their target price on Macerich from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, November 13th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.76.

Macerich Stock Performance

Shares of Macerich stock opened at $18.40 on Friday. The firm has a fifty day moving average of $18.01 and a two-hundred day moving average of $17.62. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of -11.57, a PEG ratio of 3.57 and a beta of 2.06. Macerich Company has a 52 week low of $12.48 and a 52 week high of $21.12.

Macerich (NYSE:MAC) last posted its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $253.26 million during the quarter, compared to the consensus estimate of $246.77 million. Macerich had a negative return on equity of 14.21% and a negative net margin of 37.97%.The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. As a group, equities research analysts predict that Macerich Company will post 1.55 EPS for the current year.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 15th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, December 15th. Macerich’s payout ratio is presently -42.77%.

Macerich Company Profile

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.