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

Maryland State Retirement & Pension System cut its holdings in Macerich Company (The) (NYSE:MAC) by 51.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in Macerich by 14.8% in the 3rd quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 691 shares during the period. AQR Capital Management LLC increased its position in Macerich by 2.2% during the first quarter. AQR Capital Management LLC now owns 37,808 shares of the real estate investment trust’s stock worth $640,000 after acquiring an additional 813 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Macerich by 16.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,205 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 858 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Macerich by 3.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 29,512 shares of the real estate investment trust’s stock valued at $478,000 after purchasing an additional 927 shares during the period. Finally, Fifth Third Bancorp grew its position in Macerich by 47.7% in the 2nd quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 972 shares during the last quarter. Institutional investors own 87.38% of the company’s stock.

Analysts Set New Price Targets

MAC has been the subject of a number of research analyst reports. Mizuho set a $21.00 price objective on shares of Macerich in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Macerich in a report on Wednesday, October 8th. Scotiabank raised their price objective on Macerich from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Truist Financial boosted their price objective on Macerich from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Bank of America upgraded Macerich from a “neutral” rating to a “buy” rating and upped their target price for the company from $19.00 to $23.00 in a research note on Friday, September 26th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.76.

Macerich Trading Down 1.1%

MAC stock opened at $18.40 on Friday. Macerich Company has a 1-year low of $12.48 and a 1-year high of $21.12. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.97. The business’s 50 day moving average is $18.01 and its 200-day moving average is $17.62. The firm has a market cap of $4.71 billion, a P/E ratio of -11.57, a P/E/G ratio of 3.57 and a beta of 2.06.

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

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 15th were paid a $0.17 dividend. 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 currently -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.