Public Sector Pension Investment Board Raises Position in Macerich Company (The) $MAC

Public Sector Pension Investment Board increased its stake in Macerich Company (The) (NYSE:MAC) by 14.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 985,884 shares of the real estate investment trust’s stock after buying an additional 124,574 shares during the quarter. Public Sector Pension Investment Board owned about 0.39% of Macerich worth $17,943,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nordea Investment Management AB acquired a new stake in Macerich during the 3rd quarter valued at approximately $5,326,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of Macerich by 35.0% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 724,233 shares of the real estate investment trust’s stock valued at $13,181,000 after buying an additional 187,900 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Macerich by 39.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 388,219 shares of the real estate investment trust’s stock worth $7,066,000 after buying an additional 109,413 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Macerich by 1,110.2% in the third quarter. SG Americas Securities LLC now owns 185,832 shares of the real estate investment trust’s stock worth $3,382,000 after buying an additional 170,477 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in Macerich in the second quarter valued at $18,368,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MAC shares. Scotiabank raised their price objective on shares of Macerich from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Macerich in a research note on Thursday, January 22nd. Mizuho set a $21.00 price objective on Macerich in a research note on Friday, January 9th. Truist Financial lifted their target price on Macerich from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $21.00 price target on shares of Macerich in a report on Monday, December 15th. Five 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.com, the stock has an average rating of “Hold” and a consensus target price of $19.76.

Macerich Stock Up 4.1%

NYSE:MAC opened at $18.54 on Friday. 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 stock has a 50 day moving average of $18.55 and a 200-day moving average of $17.84. The firm has a market capitalization of $4.75 billion, a PE ratio of -11.66, a price-to-earnings-growth ratio of 4.11 and a beta of 2.16. Macerich Company has a 52 week low of $12.48 and a 52 week high of $20.97.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, March 16th. Macerich’s dividend payout ratio (DPR) is -42.77%.

About Macerich

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.