The Macerich Company (NYSE:MAC) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its stake in The Macerich Company (NYSE:MAC) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 474,671 shares of the real estate investment trust’s stock after acquiring an additional 31,986 shares during the period. Public Sector Pension Investment Board owned about 0.22% of Macerich worth $7,329,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Quest Partners LLC purchased a new stake in shares of Macerich in the 4th quarter valued at about $41,000. Fidelis Capital Partners LLC acquired a new stake in shares of Macerich in the first quarter valued at approximately $46,000. Inspire Advisors LLC purchased a new position in shares of Macerich during the second quarter worth approximately $177,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of Macerich by 10.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,500 shares of the real estate investment trust’s stock valued at $178,000 after acquiring an additional 1,132 shares during the period. Finally, Entropy Technologies LP acquired a new stake in Macerich during the 1st quarter worth $194,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on MAC shares. Evercore ISI lifted their price objective on shares of Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Piper Sandler boosted their price target on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research report on Tuesday, September 3rd. The Goldman Sachs Group increased their price objective on Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research report on Thursday, September 19th. Finally, StockNews.com raised 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.45.

Macerich Price Performance

Shares of MAC opened at $17.65 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.76. The stock’s 50 day moving average is $15.74 and its two-hundred day moving average is $15.57. The Macerich Company has a twelve month low of $9.21 and a twelve month high of $17.79. The firm has a market capitalization of $3.81 billion, a PE ratio of -11.31, a P/E/G ratio of 0.53 and a beta of 2.49.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were issued 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 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.