New York State Common Retirement Fund Grows Holdings in Macerich Company (The) (NYSE:MAC)

New York State Common Retirement Fund boosted its holdings in shares of Macerich Company (The) (NYSE:MAC - Free Report) by 37.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,358 shares of the real estate investment trust's stock after acquiring an additional 27,834 shares during the period. New York State Common Retirement Fund's holdings in Macerich were worth $1,757,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Macerich by 13.2% during the fourth quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust's stock valued at $769,260,000 after buying an additional 4,503,509 shares during the last quarter. FMR LLC grew its holdings in shares of Macerich by 87.3% during the fourth quarter. FMR LLC now owns 22,047,786 shares of the real estate investment trust's stock valued at $439,192,000 after buying an additional 10,274,895 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Macerich by 845.9% during the fourth quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust's stock valued at $200,222,000 after buying an additional 8,988,665 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Macerich by 10.6% during the fourth quarter. Geode Capital Management LLC now owns 6,001,399 shares of the real estate investment trust's stock valued at $119,573,000 after buying an additional 574,490 shares during the last quarter. Finally, Bamco Inc. NY grew its holdings in shares of Macerich by 175.8% during the fourth quarter. Bamco Inc. NY now owns 4,675,471 shares of the real estate investment trust's stock valued at $93,135,000 after buying an additional 2,980,051 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Stock Up 0.1%

Shares of NYSE MAC traded up $0.02 during midday trading on Friday, hitting $17.66. The company's stock had a trading volume of 1,547,147 shares, compared to its average volume of 1,464,902. The business's fifty day simple moving average is $16.19 and its two-hundred day simple moving average is $17.06. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.09 and a quick ratio of 1.09. Macerich Company has a 1 year low of $12.48 and a 1 year high of $22.27. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of -41.06, a price-to-earnings-growth ratio of 3.44 and a beta of 2.13.

Macerich (NYSE:MAC - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. The company had revenue of $249.22 million for the quarter, compared to analysts' expectations of $221.61 million. Macerich had a negative net margin of 12.26% and a negative return on equity of 4.37%. The firm's revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the company earned $0.33 earnings per share. On average, equities analysts predict that Macerich Company will post 1.55 EPS for the current year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.85%. Macerich's dividend payout ratio (DPR) is presently -158.14%.

Analysts Set New Price Targets

MAC has been the topic of several recent research reports. Morgan Stanley decreased their price target on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. Truist Financial lifted their price target on shares of Macerich from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. LADENBURG THALM/SH SH initiated coverage on shares of Macerich in a report on Friday, July 18th. They issued a "buy" rating and a $25.00 price target for the company. Mizuho raised shares of Macerich from a "neutral" rating to an "outperform" rating and dropped their target price for the stock from $22.00 to $18.00 in a research report on Tuesday, June 10th. Finally, Scotiabank dropped their price objective on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $19.26.

Macerich 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.