Macerich Company (The) $MAC Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

by · The Markets Daily

VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in shares of Macerich Company (The) (NYSE:MAC – Free Report) by 16.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 463,403 shares of the real estate investment trust’s stock after buying an additional 66,000 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Macerich were worth $10,362,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Macerich in the 2nd quarter valued at approximately $1,476,000. Quantinno Capital Management LP raised its stake in shares of Macerich by 165.6% during the 1st quarter. Quantinno Capital Management LP now owns 140,543 shares of the real estate investment trust’s stock worth $2,656,000 after buying an additional 87,626 shares in the last quarter. Wealth Science Advisors LLC acquired a new stake in shares of Macerich in the 2nd quarter valued at approximately $1,051,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Macerich by 16,284.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,807,253 shares of the real estate investment trust’s stock valued at $45,525,000 after buying an additional 1,796,223 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Macerich in the 2nd quarter valued at approximately $59,962,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Trading Down 0.0%

Shares of MAC stock opened at $24.30 on Friday. Macerich Company has a fifty-two week low of $16.03 and a fifty-two week high of $26.67. The stock has a market cap of $6.89 billion, a P/E ratio of -37.38, a P/E/G ratio of 1.75 and a beta of 2.10. The business has a fifty day simple moving average of $23.14 and a 200-day simple moving average of $22.20. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.67.

Macerich (NYSE:MAC – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business had revenue of $249.71 million during the quarter, compared to analyst estimates of $239.77 million. Macerich had a negative net margin of 16.85% and a negative return on equity of 6.26%. Macerich’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. On average, analysts forecast that Macerich Company will post 1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MAC has been the topic of several research analyst reports. Griffin Securities set a $26.00 target price on shares of Macerich in a research report on Tuesday, August 18th. JPMorgan Chase & Co. upgraded shares of Macerich from a “neutral” rating to an “overweight” rating and set a $26.00 target price on the stock in a research report on Thursday, September 24th. BNP Paribas Exane initiated coverage on shares of Macerich in a report on Friday, October 9th. They issued an “outperform” rating and a $28.00 target price for the company. The Goldman Sachs Group reiterated a “sell” rating and set a $21.00 price target on shares of Macerich in a research report on Tuesday, September 1st. Finally, Mizuho set a $28.00 price target on Macerich in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.19.

Get Our Latest Stock Analysis on MAC

Insider Activity

In related news, CAO Christopher Zecchini sold 2,740 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $23.28, for a total transaction of $63,787.20. Following the sale, the chief accounting officer owned 847 shares of the company’s stock, valued at $19,718.16. This trade represents a 76.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is owned by corporate insiders.

Macerich Company Profile

(Free Report)

Macerich (NYSE: MAC) is a self-managed and self-administered real estate investment trust that owns, operates and develops retail and mixed-use properties in the United States. The company’s portfolio primarily consists of regional shopping centers and high-quality malls located in major markets, with a concentration in the Western and Sun Belt regions.

Macerich generates revenue primarily through leasing retail, dining, entertainment and other commercial space to tenants. Its activities also include property management, marketing, redevelopment and the development of mixed-use projects designed to combine retail with residential, office, hotel and other uses.

The company traces its roots to the 1960s and has expanded through the acquisition, development and redevelopment of retail real estate.

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