Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 33,405 Shares of Macerich Company (The) $MAC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Macerich Company (The) (NYSE:MAC) by 22.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,281 shares of the real estate investment trust’s stock after acquiring an additional 33,405 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Macerich were worth $3,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of Macerich by 76.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 585 shares in the last quarter. Global Retirement Partners LLC raised its stake in Macerich by 366.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 1,095 shares in the last quarter. Hantz Financial Services Inc. lifted its position in Macerich by 80.4% during the fourth quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 684 shares during the last quarter. Triumph Capital Management bought a new position in Macerich during the third quarter valued at $33,000. Finally, Salomon & Ludwin LLC grew its stake in shares of Macerich by 156.6% in the 4th quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 1,336 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.

Macerich Price Performance

MAC opened at $25.16 on Thursday. The business has a fifty day moving average of $23.68 and a 200 day moving average of $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 52-week low of $15.89 and a 52-week high of $25.97.

Macerich (NYSE:MAC) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 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 business had revenue of $241.54 million for the quarter, compared to analyst estimates of $233.06 million. During the same period last year, the company posted $0.33 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Macerich Company will post 1.48 EPS for the current year.

Macerich Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on MAC shares. The Goldman Sachs Group increased their price target on shares of Macerich from $17.00 to $19.00 and gave the company a “sell” rating in a report on Friday, May 15th. KeyCorp boosted their price objective on Macerich from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. Weiss Ratings raised Macerich from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Jefferies Financial Group upgraded Macerich to a “strong-buy” rating in a report on Friday, June 26th. Finally, Morgan Stanley boosted their target price on Macerich from $20.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.