Public Employees Retirement System of Ohio Purchases New Stake in Macerich Company (The) $MAC

Public Employees Retirement System of Ohio acquired a new position in shares of Macerich Company (The) (NYSE:MAC) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 322,722 shares of the real estate investment trust’s stock, valued at approximately $8,129,000.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in 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 acquiring an additional 585 shares during the period. Global Retirement Partners LLC grew its stake in shares of Macerich by 366.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 1,095 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Macerich during the 2nd quarter worth $36,000. Hantz Financial Services Inc. increased its holdings 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 valued at $28,000 after purchasing an additional 684 shares in the last quarter. Finally, Triumph Capital Management purchased a new position in shares of Macerich in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Price Performance

Macerich stock opened at $23.65 on Tuesday. The firm has a market capitalization of $6.71 billion, a PE ratio of -36.38, a P/E/G ratio of 1.71 and a beta of 2.07. Macerich Company has a 52 week low of $16.03 and a 52 week high of $26.67. The firm’s 50-day simple moving average is $25.06 and its 200 day simple moving average is $22.46. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.67.

Macerich (NYSE:MAC) last posted its earnings results on Tuesday, August 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $249.71 million for the quarter, compared to analysts’ expectations of $239.77 million. Macerich had a negative net margin of 16.85% and a negative return on equity of 6.26%. The business’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 earnings per share. On average, equities research analysts predict that Macerich Company will post 1.49 EPS for the current fiscal year.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, September 14th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, September 14th. Macerich’s dividend payout ratio (DPR) is -104.62%.

Wall Street Analyst Weigh In

MAC has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH boosted their price objective on shares of Macerich from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Piper Sandler raised shares of Macerich from a “neutral” rating to an “overweight” rating and increased their target price for the company from $28.00 to $30.00 in a report on Thursday. Evercore set a $25.00 price target on shares of Macerich in a research report on Thursday, August 6th. JPMorgan Chase & Co. raised Macerich from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $23.00 to $25.00 in a research note on Wednesday, June 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded Macerich from a “hold” rating to a “buy” rating and upped their price target for the stock from $20.00 to $27.00 in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Macerich currently has a consensus rating of “Moderate Buy” and an average price target of $25.88.

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.