Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Stake in Macerich Company (The) $MAC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Macerich Company (The) (NYSE:MAC) by 22.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,281 shares of the real estate investment trust’s stock after purchasing an additional 33,405 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.07% of Macerich worth $3,388,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MAC. Fifth Third Bancorp boosted its stake in Macerich by 14.7% during the 1st quarter. Fifth Third Bancorp now owns 3,666 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 471 shares during the last quarter. HighTower Advisors LLC increased its holdings in Macerich by 1.2% in the 4th quarter. HighTower Advisors LLC now owns 46,116 shares of the real estate investment trust’s stock worth $851,000 after buying an additional 530 shares in the last quarter. Farther Finance Advisors LLC raised its position in Macerich by 76.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 585 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in 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 valued at $455,000 after acquiring an additional 622 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in Macerich by 5.5% during the 4th quarter. Osaic Holdings Inc. now owns 12,116 shares of the real estate investment trust’s stock valued at $224,000 after acquiring an additional 637 shares during the period. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Stock Up 1.1%

MAC stock opened at $25.16 on Thursday. The business’s 50-day moving average price is $23.68 and its 200-day moving average price is $20.97. The stock has a market cap of $7.14 billion, a P/E ratio of -35.44, a PEG ratio of 1.67 and a beta of 2.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.96. Macerich Company has a twelve month low of $15.89 and a twelve month high of $25.97.

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

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, June 15th. Macerich’s payout ratio is presently -95.77%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. LADENBURG THALM/SH SH lifted their price target on shares of Macerich from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Wall Street Zen upgraded shares of Macerich from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Scotiabank lifted their target price on shares of Macerich from $24.00 to $27.00 and gave the stock a “sector outperform” rating in a research report on Thursday, June 18th. Weiss Ratings upgraded shares of Macerich from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, 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 research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.14.

Macerich Profile

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.