The Macerich Company (NYSE:MAC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its holdings in shares of The Macerich Company (NYSE:MAC) by 15.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 107,210 shares of the real estate investment trust’s stock after selling 19,374 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Macerich were worth $2,136,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Monument Capital Management acquired a new position in Macerich during the 4th quarter worth $299,000. Rhumbline Advisers boosted its position in Macerich by 5.8% during the 4th quarter. Rhumbline Advisers now owns 775,751 shares of the real estate investment trust’s stock worth $15,453,000 after acquiring an additional 42,873 shares during the period. New York State Teachers Retirement System boosted its position in Macerich by 2.2% during the 4th quarter. New York State Teachers Retirement System now owns 183,508 shares of the real estate investment trust’s stock worth $3,655,000 after acquiring an additional 3,979 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Macerich by 16.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 354,968 shares of the real estate investment trust’s stock valued at $7,149,000 after buying an additional 48,890 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Macerich by 20.4% in the fourth quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust’s stock valued at $893,000 after buying an additional 7,608 shares during the period. Institutional investors and hedge funds own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MAC. Deutsche Bank Aktiengesellschaft began coverage on Macerich in a report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price objective for the company. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and upped their price objective for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Compass Point upped their price objective on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $22.00 in a report on Wednesday, December 4th. Finally, Scotiabank upgraded Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price objective for the company in a report on Tuesday, December 17th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Macerich has an average rating of “Hold” and a consensus price target of $19.30.

Insider Activity at Macerich

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

Macerich Stock Down 2.5 %

Shares of Macerich stock opened at $19.86 on Friday. The stock’s fifty day moving average is $20.31 and its 200-day moving average is $18.76. The firm has a market capitalization of $4.93 billion, a PE ratio of 50.91, a price-to-earnings-growth ratio of 0.71 and a beta of 2.50. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 12-month low of $12.99 and a 12-month high of $22.27.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Tuesday, March 4th. Macerich’s payout ratio is 174.36%.

Macerich 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.