Illinois Municipal Retirement Fund Purchases 12,928 Shares of The Macerich Company (NYSE:MAC)

Illinois Municipal Retirement Fund raised its position in The Macerich Company (NYSE:MAC) by 11.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,166 shares of the real estate investment trust’s stock after acquiring an additional 12,928 shares during the period. Illinois Municipal Retirement Fund’s holdings in Macerich were worth $2,493,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Amalgamated Bank lifted its holdings in shares of Macerich by 11.7% during the 4th quarter. Amalgamated Bank now owns 71,104 shares of the real estate investment trust’s stock valued at $1,416,000 after purchasing an additional 7,436 shares during the last quarter. Bank of New York Mellon Corp increased its position in Macerich by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,162,987 shares of the real estate investment trust’s stock valued at $43,087,000 after buying an additional 142,566 shares in the last quarter. Handelsbanken Fonder AB raised its stake in Macerich by 14.4% in the fourth quarter. Handelsbanken Fonder AB now owns 69,256 shares of the real estate investment trust’s stock valued at $1,380,000 after buying an additional 8,700 shares during the last quarter. Financial Management Network Inc. boosted its holdings in Macerich by 4.5% in the fourth quarter. Financial Management Network Inc. now owns 30,854 shares of the real estate investment trust’s stock worth $634,000 after acquiring an additional 1,339 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of Macerich by 10.2% during the fourth quarter. New York State Common Retirement Fund now owns 74,524 shares of the real estate investment trust’s stock worth $1,485,000 after acquiring an additional 6,900 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MAC has been the subject of several research analyst reports. Morgan Stanley raised shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective for the company in a research report on Wednesday, January 15th. Compass Point raised their price target on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $14.00 to $22.00 in a research note on Wednesday, December 4th. Piper Sandler upped their target price on Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a research report on Wednesday, December 11th. Finally, StockNews.com cut Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Macerich has an average rating of “Hold” and a consensus target price of $19.30.

Macerich Stock Performance

NYSE MAC opened at $18.29 on Friday. The firm has a market capitalization of $4.55 billion, a P/E ratio of 46.90, a PEG ratio of 0.71 and a beta of 2.50. The stock has a 50-day simple moving average of $20.21 and a two-hundred day simple moving average of $18.86. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Tuesday, March 4th. Macerich’s payout ratio is presently 174.36%.

Insider Buying and Selling at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the completion of the transaction, the director now directly owns 83,479 shares of the company’s stock, valued at $1,718,832.61. The trade was a 43.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

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.