107,800 Shares in The Macerich Company (NYSE:MAC) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in The Macerich Company (NYSE:MAC) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 107,800 shares of the real estate investment trust’s stock, valued at approximately $1,663,000. Louisiana State Employees Retirement System owned 0.05% of Macerich as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new stake in Macerich during the second quarter valued at about $29,000. Harvest Fund Management Co. Ltd bought a new stake in Macerich during the third quarter valued at about $36,000. Anchor Investment Management LLC bought a new stake in Macerich during the fourth quarter valued at about $40,000. Northwestern Mutual Wealth Management Co. raised its holdings in Macerich by 42.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,831 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 1,136 shares during the period. Finally, CWM LLC raised its holdings in Macerich by 51.0% during the third quarter. CWM LLC now owns 5,409 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 1,826 shares during the period. 87.38% of the stock is owned by institutional investors.

Macerich Trading Up 0.8 %

MAC opened at $15.29 on Friday. The firm has a market cap of $3.30 billion, a P/E ratio of -12.04, a P/E/G ratio of 1.73 and a beta of 2.33. The Macerich Company has a 12 month low of $9.05 and a 12 month high of $17.69. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.67. The stock has a 50-day moving average of $16.47 and a 200 day moving average of $14.35.

Macerich (NYSE:MAC) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.26). The company had revenue of $238.70 million during the quarter, compared to analysts’ expectations of $224.49 million. Macerich had a negative return on equity of 10.26% and a negative net margin of 31.00%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 EPS. As a group, research analysts forecast that The Macerich Company will post 1.8 EPS for the current year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Friday, February 16th were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.68 annualized dividend and a yield of 4.45%. Macerich’s dividend payout ratio is currently -53.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Truist Financial reissued a “hold” rating and set a $16.00 price target on shares of Macerich in a report on Monday, March 25th. StockNews.com cut Macerich from a “hold” rating to a “sell” rating in a report on Thursday. Citigroup raised Macerich from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $8.00 to $17.00 in a report on Friday, March 22nd. Finally, The Goldman Sachs Group lifted their target price on Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.40.

Insider Buying and Selling

In other Macerich news, Director Edward C. Coppola sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.01, for a total transaction of $340,200.00. Following the completion of the transaction, the director now owns 635,667 shares in the company, valued at $10,812,695.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Macerich news, Director Edward C. Coppola sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.01, for a total transaction of $340,200.00. Following the completion of the transaction, the director now owns 635,667 shares in the company, valued at $10,812,695.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hern Thomas E. O sold 7,964 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total value of $130,529.96. Following the transaction, the director now owns 197,900 shares of the company’s stock, valued at approximately $3,243,581. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,964 shares of company stock worth $2,940,030. Corporate insiders own 0.57% of the company’s stock.

Macerich Company Profile

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.