Ilmarinen Mutual Pension Insurance Co Acquires Shares of 203,500 The Macerich Company (NYSE:MAC)

Ilmarinen Mutual Pension Insurance Co bought a new position in The Macerich Company (NYSE:MAC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 203,500 shares of the real estate investment trust’s stock, valued at approximately $4,054,000. Ilmarinen Mutual Pension Insurance Co owned about 0.08% of Macerich at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Macerich by 845.9% in the fourth quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust’s stock worth $200,222,000 after purchasing an additional 8,988,665 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Macerich by 13.2% in the fourth quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust’s stock worth $769,260,000 after buying an additional 4,503,509 shares during the period. Prudential Financial Inc. lifted its stake in shares of Macerich by 463.6% during the 4th quarter. Prudential Financial Inc. now owns 2,590,689 shares of the real estate investment trust’s stock worth $51,607,000 after acquiring an additional 2,131,030 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Macerich by 77.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,812,987 shares of the real estate investment trust’s stock valued at $75,955,000 after acquiring an additional 1,667,066 shares during the period. Finally, Burkehill Global Management LP bought a new position in Macerich in the 4th quarter valued at $19,920,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Trading Down 6.9 %

MAC opened at $14.52 on Friday. The Macerich Company has a 12 month low of $12.99 and a 12 month high of $22.27. The stock has a fifty day moving average price of $18.67 and a 200-day moving average price of $19.18. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 0.71 and a beta of 2.17. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich’s payout ratio is -86.08%.

Wall Street Analyst Weigh In

MAC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a research note on Monday, March 10th. Scotiabank lowered their price objective on shares of Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Macerich in a research report on Tuesday, December 17th. They set a “hold” rating and a $22.00 target price on the stock. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and boosted their price target for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Finally, Truist Financial decreased their target price on Macerich from $23.00 to $19.00 and set a “hold” rating for the company in a research report on Tuesday, April 1st. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.37.

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.