113,600 Shares in Macerich Company (The) $MAC Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in shares of Macerich Company (The) (NYSE:MAC) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 113,600 shares of the real estate investment trust’s stock, valued at approximately $2,147,000.

Other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC increased its position in shares of Macerich by 1.2% during the fourth quarter. HighTower Advisors LLC now owns 46,116 shares of the real estate investment trust’s stock valued at $851,000 after buying an additional 530 shares during the period. Farther Finance Advisors LLC boosted its position in Macerich by 76.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 585 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Macerich by 2.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 24,659 shares of the real estate investment trust’s stock worth $455,000 after acquiring an additional 622 shares during the period. Osaic Holdings Inc. grew its holdings in shares of Macerich by 5.5% during the 4th quarter. Osaic Holdings Inc. now owns 12,116 shares of the real estate investment trust’s stock worth $224,000 after acquiring an additional 637 shares during the period. Finally, Hantz Financial Services Inc. raised its position in shares of Macerich by 80.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 684 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MAC has been the subject of a number of research analyst reports. Citigroup upgraded Macerich from a “neutral” rating to a “buy” rating and raised their target price for the company from $24.00 to $28.00 in a research note on Tuesday, June 23rd. Evercore set a $22.00 price objective on Macerich in a report on Friday, May 8th. Jefferies Financial Group raised Macerich to a “strong-buy” rating in a research report on Friday. The Goldman Sachs Group boosted their target price on shares of Macerich from $17.00 to $19.00 and gave the company a “sell” rating in a report on Friday, May 15th. Finally, KeyCorp upped their target price on shares of Macerich from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Macerich presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Macerich Price Performance

Shares of NYSE:MAC opened at $25.77 on Tuesday. The business has a fifty day moving average price of $22.86 and a 200-day moving average price of $20.42. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $7.31 billion, a PE ratio of -36.29, a PEG ratio of 1.73 and a beta of 2.10. Macerich Company has a 1-year low of $15.88 and a 1-year high of $25.97.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Macerich had a negative net margin of 18.22% and a negative return on equity of 6.95%. The company had revenue of $241.54 million for the quarter, compared to analysts’ expectations of $233.06 million. During the same quarter in the previous year, the business posted $0.33 EPS. Macerich’s revenue was down 3.1% compared to the same quarter last year. As a group, equities analysts expect that Macerich Company will post 1.48 EPS for the current fiscal year.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, June 15th. Macerich’s dividend payout ratio is currently -95.77%.

About Macerich

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.