Kentucky Retirement Systems Insurance Trust Fund Acquires Shares of 4,977 The Macerich Company (NYSE:MAC)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of The Macerich Company (NYSE:MAC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,977 shares of the real estate investment trust’s stock, valued at approximately $99,000.

Several other institutional investors have also added to or reduced their stakes in MAC. FMR LLC lifted its holdings in Macerich by 12,475.9% during the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock valued at $214,738,000 after purchasing an additional 11,679,276 shares during the last quarter. Bamco Inc. NY lifted its holdings in Macerich by 742.3% during the third quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock valued at $30,924,000 after purchasing an additional 1,494,145 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Macerich by 399.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust’s stock valued at $28,206,000 after purchasing an additional 1,236,983 shares during the last quarter. Smead Capital Management Inc. lifted its holdings in Macerich by 3.5% during the third quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock valued at $372,706,000 after purchasing an additional 688,790 shares during the last quarter. Finally, Brookfield Corp ON purchased a new stake in Macerich during the third quarter valued at about $9,217,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were 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 in the company, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.

Macerich Trading Down 1.3 %

Shares of MAC opened at $20.54 on Thursday. The firm’s 50 day simple moving average is $20.36 and its 200 day simple moving average is $18.69. The company has a market capitalization of $5.10 billion, a P/E ratio of 52.66, a P/E/G ratio of 0.71 and a beta of 2.50. 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 Macerich Company has a 1-year low of $12.99 and a 1-year high of $22.27.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Tuesday, March 4th. Macerich’s dividend payout ratio is currently 174.36%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Macerich in a report on Tuesday, December 17th. They set a “hold” rating and a $22.00 price objective on the stock. Piper Sandler increased their price target on shares of Macerich from $14.00 to $17.00 and gave the stock an “underweight” rating in a report on Wednesday, December 11th. Compass Point increased their price target on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and increased their price target for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Finally, Scotiabank raised shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price target on the stock in a report on Tuesday, December 17th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.30.

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.