New York State Teachers Retirement System Raises Holdings in The Macerich Company (NYSE:MAC)

New York State Teachers Retirement System grew its position in The Macerich Company (NYSE:MAC) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 183,508 shares of the real estate investment trust’s stock after buying an additional 3,979 shares during the quarter. New York State Teachers Retirement System owned 0.07% of Macerich worth $3,655,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its stake in shares of Macerich by 152.2% during the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 933 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Macerich by 36.5% during the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 1,174 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Macerich by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 2,161 shares during the last quarter. Custom Index Systems LLC lifted its stake in shares of Macerich by 8.7% during the 4th quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust’s stock worth $232,000 after purchasing an additional 928 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Macerich by 92.1% during the 4th quarter. KBC Group NV now owns 11,814 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 5,664 shares during the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MAC. StockNews.com cut Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Compass Point upped their target price on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and upped their target price for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Morgan Stanley raised Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 target price on the stock in a research report on Wednesday, January 15th. Finally, Piper Sandler upped their target price on Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Macerich currently has an average rating of “Hold” and a consensus target price of $19.30.

Insider Buying and Selling

In related news, Director Andrea M. Stephen sold 63,289 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the sale, the director now directly owns 83,479 shares of the company’s stock, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by corporate insiders.

Macerich Stock Down 2.5 %

Shares of MAC stock opened at $19.86 on Friday. The firm has a market capitalization of $4.93 billion, a PE ratio of 50.91, a P/E/G ratio of 0.72 and a beta of 2.50. The Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. The stock’s 50-day simple moving average is $20.31 and its 200-day simple moving average is $18.74. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Tuesday, March 4th. Macerich’s dividend payout ratio (DPR) is 174.36%.

About Macerich

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.