Public Employees Retirement System of Ohio Grows Stock Position in The Macerich Company (NYSE:MAC)

Public Employees Retirement System of Ohio lifted its position in shares of The Macerich Company (NYSE:MAC - Free Report) by 12.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 352,623 shares of the real estate investment trust's stock after buying an additional 38,623 shares during the period. Public Employees Retirement System of Ohio owned about 0.14% of Macerich worth $7,024,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in shares of Macerich by 314.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock worth $69,000 after buying an additional 2,630 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Macerich by 20.4% in the fourth quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust's stock worth $893,000 after buying an additional 7,608 shares in the last quarter. New York State Teachers Retirement System lifted its stake in Macerich by 2.2% in the 4th quarter. New York State Teachers Retirement System now owns 183,508 shares of the real estate investment trust's stock worth $3,655,000 after purchasing an additional 3,979 shares in the last quarter. FIL Ltd lifted its position in shares of Macerich by 4.7% in the fourth quarter. FIL Ltd now owns 1,158,518 shares of the real estate investment trust's stock worth $23,078,000 after buying an additional 51,994 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Macerich by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,162,987 shares of the real estate investment trust's stock worth $43,087,000 after acquiring an additional 142,566 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company's stock.

Macerich Price Performance

MAC stock traded up $0.04 during midday trading on Friday, reaching $16.23. The stock had a trading volume of 3,216,787 shares, compared to its average volume of 1,937,726. The company's fifty day simple moving average is $15.25 and its 200 day simple moving average is $18.22. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 41.62, a price-to-earnings-growth ratio of 0.71 and a beta of 2.13. The Macerich Company has a 52-week low of $12.48 and a 52-week high of $22.27.

Macerich (NYSE:MAC - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The firm had revenue of $249.22 million for the quarter, compared to the consensus estimate of $221.61 million. During the same period last year, the firm posted $0.33 earnings per share. The company's revenue for the quarter was up 19.3% on a year-over-year basis. As a group, sell-side analysts predict that The Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 4.19%. Macerich's dividend payout ratio is presently -158.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MAC shares. The Goldman Sachs Group reduced their target price on shares of Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research note on Monday, March 10th. JPMorgan Chase & Co. reduced their price target on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research note on Monday, March 10th. Piper Sandler raised shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 target price on the stock in a research report on Thursday, May 22nd. Morgan Stanley reduced their price objective on Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. Finally, Truist Financial raised shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 target price on the stock in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $18.95.

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.