Allstate Corp Acquires 10,890 Shares of The Macerich Company (NYSE:MAC)

Allstate Corp raised its holdings in The Macerich Company (NYSE:MAC) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,360 shares of the real estate investment trust’s stock after acquiring an additional 10,890 shares during the period. Allstate Corp owned about 0.05% of Macerich worth $2,657,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. M&T Bank Corp grew its holdings in shares of Macerich by 2.8% during the 4th quarter. M&T Bank Corp now owns 20,228 shares of the real estate investment trust’s stock valued at $403,000 after purchasing an additional 543 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in shares of Macerich by 5.7% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 12,234 shares of the real estate investment trust’s stock worth $244,000 after buying an additional 665 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Macerich by 0.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust’s stock worth $5,029,000 after buying an additional 700 shares in the last quarter. Townsquare Capital LLC lifted its stake in shares of Macerich by 7.2% in the 3rd quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock valued at $245,000 after acquiring an additional 902 shares during the last quarter. Finally, Custom Index Systems LLC lifted its stake in shares of Macerich by 8.7% in the 4th quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust’s stock valued at $232,000 after acquiring an additional 928 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Performance

Shares of Macerich stock opened at $17.10 on Friday. The business has a 50-day moving average price of $19.04 and a two-hundred day moving average price of $19.18. The Macerich Company has a 1-year low of $12.99 and a 1-year high of $22.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The company has a market cap of $4.32 billion, a P/E ratio of 43.85, a PEG ratio of 0.71 and a beta of 2.62.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.68 annualized dividend and a yield of 3.98%. Macerich’s dividend payout ratio is currently -86.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MAC. JPMorgan Chase & Co. lowered their target price on Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a report on Monday, March 10th. Scotiabank dropped their price objective on shares of Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a report on Thursday, March 6th. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and boosted their target price for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Morgan Stanley raised shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price target for the company in a research note on Wednesday, January 15th. Finally, Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $14.00 to $22.00 in a research note on Wednesday, December 4th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.49.

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.