Louisiana State Employees Retirement System Makes New Investment in The Macerich Company (NYSE:MAC)

Louisiana State Employees Retirement System purchased a new position in shares of The Macerich Company (NYSE:MAC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 107,800 shares of the real estate investment trust's stock, valued at approximately $1,663,000. Louisiana State Employees Retirement System owned approximately 0.05% of Macerich at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in Macerich during the second quarter worth $29,000. Harvest Fund Management Co. Ltd bought a new position in shares of Macerich during the third quarter valued at $36,000. Anchor Investment Management LLC bought a new position in shares of Macerich in the fourth quarter valued at about $40,000. Northwestern Mutual Wealth Management Co. raised its holdings in Macerich by 42.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,831 shares of the real estate investment trust's stock worth $43,000 after purchasing an additional 1,136 shares during the last quarter. Finally, CWM LLC grew its position in shares of Macerich by 51.0% during the 3rd quarter. CWM LLC now owns 5,409 shares of the real estate investment trust's stock worth $59,000 after buying an additional 1,826 shares during the period. Institutional investors and hedge funds own 87.38% of the company's stock.

Insiders Place Their Bets

In other Macerich news, President Edward C. Coppola sold 50,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total transaction of $860,000.00. Following the transaction, the president now owns 655,667 shares in the company, valued at approximately $11,277,472.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Hern Thomas E. O sold 95,000 shares of the firm's stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $16.94, for a total value of $1,609,300.00. Following the transaction, the director now owns 102,900 shares in the company, valued at $1,743,126. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Edward C. Coppola sold 50,000 shares of the firm's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total value of $860,000.00. Following the completion of the transaction, the president now owns 655,667 shares in the company, valued at approximately $11,277,472.40. The disclosure for this sale can be found here. Insiders have sold 172,964 shares of company stock worth $2,940,030 in the last 90 days. Company insiders own 0.57% of the company's stock.

Macerich Stock Performance

Macerich stock traded up $0.12 during mid-day trading on Friday, hitting $15.29. 1,293,684 shares of the company's stock traded hands, compared to its average volume of 1,415,520. The firm has a 50 day simple moving average of $16.47 and a two-hundred day simple moving average of $14.37. The Macerich Company has a fifty-two week low of $9.05 and a fifty-two week high of $17.69. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -12.04, a P/E/G ratio of 1.71 and a beta of 2.33. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.95 and a quick ratio of 0.95.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.26). Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The business had revenue of $238.70 million for the quarter, compared to analyst estimates of $224.49 million. During the same period in the prior year, the business earned $0.53 EPS. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. On average, research analysts expect that The Macerich Company will post 1.8 EPS for the current fiscal year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Friday, February 16th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.45%. The ex-dividend date was Thursday, February 15th. Macerich's payout ratio is -53.54%.

Analysts Set New Price Targets

A number of research firms recently issued reports on MAC. StockNews.com cut Macerich from a "hold" rating to a "sell" rating in a research note on Thursday. Truist Financial reaffirmed a "hold" rating and set a $16.00 price target on shares of Macerich in a research note on Monday, March 25th. Citigroup raised shares of Macerich from a "sell" rating to a "neutral" rating and raised their price target for the stock from $8.00 to $17.00 in a research note on Friday, March 22nd. Finally, The Goldman Sachs Group raised their price target on shares of Macerich from $9.00 to $13.00 and gave the stock a "sell" rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. According to data from MarketBeat, Macerich has a consensus rating of "Hold" and an average target price of $14.40.

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.