State of New Jersey Common Pension Fund D Has $1.98 Million Position in The Macerich Company (NYSE:MAC)

State of New Jersey Common Pension Fund D reduced its position in shares of The Macerich Company (NYSE:MAC) by 23.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,443 shares of the real estate investment trust’s stock after selling 40,329 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Macerich worth $1,983,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in Macerich during the 4th quarter valued at $41,000. Fidelis Capital Partners LLC acquired a new position in shares of Macerich in the first quarter worth $46,000. Entropy Technologies LP acquired a new position in shares of Macerich in the first quarter worth $194,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Macerich by 11.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 17,610 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 1,805 shares during the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Macerich in the fourth quarter worth $282,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MAC shares. The Goldman Sachs Group upped their price target on shares of Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research note on Thursday. Piper Sandler upped their price target on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 3rd. Evercore ISI raised their target price on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Finally, StockNews.com upgraded Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.45.

Macerich Stock Up 2.2 %

MAC stock opened at $17.65 on Friday. The Macerich Company has a twelve month low of $9.21 and a twelve month high of $17.73. The company has a market cap of $3.81 billion, a PE ratio of -11.31, a price-to-earnings-growth ratio of 0.53 and a beta of 2.49. The business’s 50-day simple moving average is $15.63 and its 200 day simple moving average is $15.55. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.76.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend was Monday, August 19th. Macerich’s dividend payout ratio (DPR) is presently -43.59%.

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.