State of Alaska Department of Revenue boosted its position in shares of Macerich Co (NYSE:MAC) by 42.3% during the 4th quarter, Holdings Channel reports. The firm owned 107,098 shares of the real estate investment trust’s stock after acquiring an additional 31,856 shares during the quarter. State of Alaska Department of Revenue’s holdings in Macerich were worth $7,032,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in Macerich by 5.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,899,041 shares of the real estate investment trust’s stock valued at $159,359,000 after buying an additional 143,975 shares during the period. Dimensional Fund Advisors LP boosted its position in Macerich by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,047,155 shares of the real estate investment trust’s stock valued at $112,533,000 after buying an additional 49,918 shares during the period. Third Point LLC purchased a new stake in Macerich in the 3rd quarter valued at about $94,878,000. Canada Pension Plan Investment Board boosted its position in Macerich by 39.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,252,483 shares of the real estate investment trust’s stock valued at $68,849,000 after buying an additional 353,900 shares during the period. Finally, Legal & General Group Plc boosted its position in Macerich by 6.3% in the 3rd quarter. Legal & General Group Plc now owns 1,224,305 shares of the real estate investment trust’s stock valued at $67,301,000 after buying an additional 72,046 shares during the period. Institutional investors own 97.57% of the company’s stock.

Several equities research analysts have issued reports on MAC shares. Wells Fargo & Co raised shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 price objective for the company in a research report on Tuesday, December 19th. Evercore ISI cut shares of Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 price objective for the company. in a research report on Monday, December 11th. Boenning Scattergood set a $75.00 price objective on shares of Macerich and gave the company a “buy” rating in a research report on Wednesday, November 1st. Mizuho reissued a “hold” rating and issued a $60.00 price objective on shares of Macerich in a research report on Friday, November 10th. Finally, BMO Capital Markets set a $55.00 price objective on shares of Macerich and gave the company a “hold” rating in a research report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. Macerich currently has a consensus rating of “Hold” and an average price target of $66.85.

Shares of Macerich Co (MAC) opened at $63.75 on Friday. Macerich Co has a 52-week low of $52.12 and a 52-week high of $70.70. The firm has a market cap of $8,854.62, a P/E ratio of 15.80, a PEG ratio of 2.93 and a beta of 0.88. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.85 and a quick ratio of 0.85.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.86). Macerich had a return on equity of 3.56% and a net margin of 14.92%. The business had revenue of $242.50 million during the quarter, compared to analysts’ expectations of $226.00 million. During the same period in the previous year, the company posted $1.04 EPS. Macerich’s revenue for the quarter was down 4.3% on a year-over-year basis. research analysts expect that Macerich Co will post 3.94 earnings per share for the current fiscal year.

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Macerich Profile

The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.

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Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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