New Mexico Educational Retirement Board Buys 5,100 Shares of The Macerich Company (NYSE:MAC)

Posted by Defense World Staff on Aug 3rd, 2023

New Mexico Educational Retirement Board increased its holdings in shares of The Macerich Company (NYSE:MAC – Free Report) by 15.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,852 shares of the real estate investment trust’s stock after buying an additional 5,100 shares during the period. New Mexico Educational Retirement Board’s holdings in Macerich were worth $412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Belpointe Asset Management LLC bought a new stake in shares of Macerich during the fourth quarter worth approximately $28,000. Point72 Hong Kong Ltd bought a new stake in shares of Macerich during the second quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Macerich by 42.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,831 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 1,136 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Macerich by 92.4% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,618 shares of the real estate investment trust’s stock worth $78,000 after buying an additional 3,658 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Macerich during the second quarter valued at approximately $90,000. 83.38% of the stock is owned by institutional investors.

Macerich Stock Performance

NYSE MAC opened at $12.90 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.50. The firm’s fifty day moving average price is $11.35 and its two-hundred day moving average price is $11.17. The Macerich Company has a 1 year low of $7.40 and a 1 year high of $14.51. The firm has a market capitalization of $2.77 billion, a P/E ratio of -32.25, a price-to-earnings-growth ratio of 2.24 and a beta of 2.14.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MAC. Piper Sandler decreased their price objective on shares of Macerich from $11.00 to $9.00 in a report on Friday, May 5th. Mizuho decreased their price objective on shares of Macerich from $11.00 to $9.00 in a report on Friday, May 26th. Truist Financial reduced their price target on shares of Macerich from $15.00 to $14.00 in a report on Wednesday, June 28th. VNET Group reiterated a “maintains” rating on shares of Macerich in a report on Wednesday, May 17th. Finally, StockNews.com started coverage on shares of Macerich in a report on Thursday, May 18th. They issued a “sell” rating for the company. Four research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Macerich presently has a consensus rating of “Hold” and an average price target of $11.25.

Read Our Latest Report on Macerich

Macerich Company Profile

(Free Report)

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.