Texas Permanent School Fund Acquires 3,880 Shares of The MacRich Company (NYSE:MAC)

According to its most recent disclosure with the Securities and Exchange Commission (SEC), Texas Permanent School Fund increased shares of The Macerich Company (NYSE: MAC – GET Rating) by 2.6% during the second quarter. The institutional investor owned 154,914 shares of the real estate investment trust’s stock after purchasing an additional 3,880 shares during the period. At the end of the most recent quarter Texas Permanent School Fund owned 0.07% of Macerich worth $1,349,000.

Several other large investors also made changes to their positions in MAC recently. Comerica Bank increased shares of Macerich by 0.8% during the first quarter. Comerica Bank now owns 100,737 shares of the real estate investment trust valued at $1,460,000 after buying an additional 825 shares in the last quarter. Whittier Trust Company increased its position in Macerich shares to 201.1% during the first quarter. Whittier Trust Company now owns 2,246 shares of the real estate investment trust valued at $35,000 after purchasing an additional 1,500 shares in the last quarter. Mutual of America Capital Management LLC increased shares of Macerich by 2.0% during the first quarter. Mutual of America Capital Management LLC now owns 194,287 shares of the real estate investment trust valued at $3,039,000 after buying an additional 3,725 shares in the last quarter. State of New Jersey Common Pension Fund D gained 24.4% in shares of Macerich during the first quarter. State of New Jersey Common Pension Fund D now owns 165,284 shares of the real estate investment trust’s stock valued at $2,585,000 after buying an additional 32,426 shares in the last quarter. Finally, abrdn plc increased its position in Macerich shares by 3.2% during the first quarter. ABRDN plc now owns 47,451 shares of Real Estate Investment Trust valued at $761,000 after purchasing an additional 1,491 shares in the last quarter. 83.33% of the stock is held by institutional investors.

Inside Activity at Macerich

In other news, CEO Hern Thomas E.O acquired 11,100 shares of MacRich stock in a transaction that occurred on Monday, September 19. The stock was purchased at an average price of $8.99 per share for a total value of $99,789.00. Following the completion of the purchase, the chief executive officer now holds 185,080 shares in the company, valued at $1,663,869.20. The purchase was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed via this hyperlink. In other news, CEO Hern Thomas E.O acquired 11,100 shares of MacRich stock in a transaction that occurred on Monday, September 19. The stock was purchased at an average price of $8.99 per share for a total value of $99,789.00. Following the completion of the purchase, the chief executive officer now holds 185,080 shares in the company, valued at $1,663,869.20. The purchase was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed via this hyperlink. Additionally, CFO Scott W. Kingsmore acquired 4,000 shares of Macerich stock in a transaction that occurred on Monday, September 26. The shares were purchased at an average cost of $7.54 per share for a total value of $30,160.00. Following the purchase, the chief financial officer now owns 36,310 shares of the company’s stock, valued at approximately $273,777.40. Disclosure for this purchase can be found here. Over the past 90 days, insiders bought 104,617 shares of the company’s stock valued at $853,909. Corporate insiders hold 1.77% of the company’s stock.

Analyst Rating Changes

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Several research analysts recently weighed in on the stock. Mizuho cut its price target on shares of Macerich from $18.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday, August 3. StockNews.com assumed coverage on shares of Macerich in a report on Wednesday, October 12. They set a “Sell” rating for the company. Deutsche Bank Aktiengesellschaft cut its price objective on shares of Macerich from $17.00 to $13.00 and set a “buy” rating on the company in a report on Tuesday, October 4. Piper Sandler raised its price objective on shares of Macerich to $9.00 in a report on Wednesday. Finally, Evercore ISI cut its price objective on shares of Macerich from $13.00 to $11.00 and set an “in-line” rating for the company in a report on Tuesday, September 27. Seven investment analysts have Sell ratings on the company, three have Hold ratings and two have Buy ratings on the company. The company has a consensus rating of “Hold” and a consensus target price of $12.86, based on data from MarketBeat.com.

macrich price display

MAC opened on Friday at $13.20. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of -33.85, a PEG ratio of 1.99, and a beta of 2.06. The company has a quick ratio of 0.90, current ratio of 0.90 and debt-to-equity ratio of 1.46. The firm’s 50-day moving average price is $9.88 and 200-day moving average price is $10.31. The Macerich Company 12 Month Low is $7.40 and the 12 Month High is $21.89.

Macerich raises dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2. Investors of record will be paid a dividend of $0.17 per share on Wednesday, November 9th. The ex-dividend date is Tuesday, November 8th. This represents a $0.68 annual dividend and a yield of 5.15%. This is a boost from Macerich’s previous quarterly dividend of $0.15. Macerich’s payout ratio currently stands at -174.36%.

macrich profile

(get rating)

Macerich is a fully integrated, self-managed and self-administered real estate investment trust focused on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate, consisting primarily of interests in 47 regional shopping centers.

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Institutional Ownership by Quarter for MacRich (NYSE:MAC)

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