Macerich Company (The) $MAC Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its holdings in Macerich Company (The) (NYSE:MAC) by 14.5% during the 3rd quarter, Holdings Channel reports. The fund owned 985,884 shares of the real estate investment trust’s stock after acquiring an additional 124,574 shares during the quarter. Public Sector Pension Investment Board’s holdings in Macerich were worth $17,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Macerich by 14.8% in 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 in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Macerich by 16.0% during 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 purchasing an additional 858 shares in the last quarter. Archer Investment Corp lifted its holdings in Macerich by 25.9% in the third quarter. Archer Investment Corp now owns 7,179 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 1,479 shares during the period. Quadrature Capital Ltd bought a new position in Macerich in the 2nd quarter valued at about $191,000. Finally, Inspire Advisors LLC increased its stake in Macerich by 14.4% during the 2nd 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 period. Institutional investors and hedge funds own 87.38% of the company’s stock.

Analyst Upgrades and Downgrades

MAC has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $21.00 price target on shares of Macerich in a research note on Monday, December 15th. Scotiabank upped their target price on Macerich from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Mizuho set a $21.00 price target on Macerich in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Macerich in a research note on Thursday, January 22nd. Finally, Truist Financial raised their target price on Macerich from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating, four have issued 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 an average price target of $19.76.

Macerich Price Performance

Shares of NYSE:MAC opened at $18.54 on Friday. The company 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. 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 fifty day moving average of $18.55 and a 200-day moving average of $17.84. Macerich Company has a one year low of $12.48 and a one year high of $20.97.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a $0.17 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.7%. 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.