Teachers Retirement System of The State of Kentucky Boosts Holdings in The Macerich Company (NYSE:MAC)

Teachers Retirement System of The State of Kentucky grew its holdings in The Macerich Company (NYSE:MAC - Free Report) by 216.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 221,153 shares of the real estate investment trust's stock after purchasing an additional 151,253 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.09% of Macerich worth $4,405,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MAC. GAMMA Investing LLC boosted its holdings in shares of Macerich by 36.5% in the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock worth $87,000 after acquiring an additional 1,174 shares during the period. Friedenthal Financial bought a new position in Macerich in the 4th quarter worth about $771,000. Perpetual Ltd grew its holdings in Macerich by 24.3% during the 4th quarter. Perpetual Ltd now owns 55,356 shares of the real estate investment trust's stock valued at $1,103,000 after buying an additional 10,830 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Macerich by 15.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,118 shares of the real estate investment trust's stock valued at $1,098,000 after buying an additional 7,314 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 1,064 shares during the period. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Trading Down 0.0 %

Macerich stock traded down $0.00 during trading hours on Monday, reaching $14.83. The stock had a trading volume of 331,656 shares, compared to its average volume of 2,237,291. The company has a fifty day simple moving average of $16.50 and a 200-day simple moving average of $18.78. The Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27. The stock has a market cap of $3.74 billion, a PE ratio of 38.02, a PEG ratio of 0.71 and a beta of 2.17. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich's payout ratio is -86.08%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MAC shares. JPMorgan Chase & Co. reduced their price objective on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research note on Monday, March 10th. Piper Sandler reduced their price target on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group lowered their price objective on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research report on Monday, March 10th. Morgan Stanley reduced their target price on Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. Finally, Jefferies Financial Group raised shares of Macerich from a "hold" rating to a "buy" rating and increased their price target for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $18.95.

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.