Arizona State Retirement System Grows Stock Holdings in The Macerich Company (NYSE:MAC)

Arizona State Retirement System grew its position in The Macerich Company (NYSE:MAC) by 2.0% during the second quarter, Holdings Channel reports. The institutional investor owned 60,391 shares of the real estate investment trust’s stock after acquiring an additional 1,181 shares during the quarter. Arizona State Retirement System’s holdings in Macerich were worth $932,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its position in Macerich by 158.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 131,487 shares of the real estate investment trust’s stock valued at $2,201,000 after acquiring an additional 80,541 shares during the last quarter. Murphy Pohlad Asset Management LLC lifted its holdings in shares of Macerich by 297.7% during the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust’s stock valued at $1,707,000 after purchasing an additional 82,760 shares during the last quarter. Jessup Wealth Management Inc acquired a new stake in shares of Macerich in the 1st quarter worth $7,222,000. Vanguard Group Inc. grew its stake in Macerich by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 34,478,278 shares of the real estate investment trust’s stock worth $532,000,000 after buying an additional 336,251 shares during the last quarter. Finally, UniSuper Management Pty Ltd increased its position in Macerich by 82.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 112,724 shares of the real estate investment trust’s stock valued at $1,942,000 after buying an additional 50,989 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Stock Performance

NYSE MAC opened at $16.49 on Friday. The Macerich Company has a fifty-two week low of $9.21 and a fifty-two week high of $17.69. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $3.56 billion, a P/E ratio of -10.57, a PEG ratio of 0.53 and a beta of 2.49. The stock has a 50-day simple moving average of $15.49 and a two-hundred day simple moving average of $15.54.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 19th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.68 annualized dividend and a yield of 4.12%. Macerich’s dividend payout ratio is presently -43.59%.

Analyst Ratings Changes

MAC has been the topic of a number of research analyst reports. StockNews.com upgraded Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. The Goldman Sachs Group cut their price target on shares of Macerich from $14.00 to $12.50 and set a “sell” rating on the stock in a research note on Monday, June 17th. Piper Sandler raised their price target on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd. Evercore ISI boosted their price objective on shares of Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Finally, Scotiabank lowered Macerich from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the stock from $16.00 to $14.00 in a research note on Friday, May 17th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.19.

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.