State of New Jersey Common Pension Fund D Has $2.31 Million Stake in The Macerich Company (NYSE:MAC)

State of New Jersey Common Pension Fund D cut its holdings in shares of The Macerich Company (NYSE:MAC) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,584 shares of the real estate investment trust’s stock after selling 1,859 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Macerich were worth $2,309,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in Macerich by 152.2% during the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 933 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Macerich during the 2nd quarter worth approximately $50,000. GAMMA Investing LLC raised its stake in shares of Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 933 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Macerich in the 2nd quarter valued at approximately $129,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Macerich by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 2,161 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Stock Performance

Shares of NYSE MAC opened at $19.14 on Thursday. The Macerich Company has a one year low of $10.61 and a one year high of $20.40. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 49.08, a P/E/G ratio of 0.66 and a beta of 2.50. The stock’s fifty day moving average price is $17.86 and its two-hundred day moving average price is $16.13.

Macerich (NYSE:MAC) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). The business had revenue of $220.20 million for the quarter, compared to the consensus estimate of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. Macerich’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 earnings per share. On average, equities analysts forecast that The Macerich Company will post 1.6 EPS for the current year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Tuesday, November 12th. Macerich’s dividend payout ratio (DPR) is currently 174.36%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MAC. Piper Sandler upped their price target on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. Bank of America upped their target price on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Evercore ISI lifted their price target on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Compass Point lifted their target price on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.40.

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.