Treasurer of the State of North Carolina raised its holdings in Macerich Co (NYSE:MAC) by 3.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 71,671 shares of the real estate investment trust’s stock after acquiring an additional 2,420 shares during the period. Treasurer of the State of North Carolina’s holdings in Macerich were worth $2,400,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MAC. Cornerstone Advisors Inc. grew its holdings in Macerich by 183.9% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,093 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 708 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Macerich by 1,253.3% in the 2nd quarter. Bessemer Group Inc. now owns 1,218 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 1,128 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of Macerich in the 1st quarter worth approximately $78,000. CSat Investment Advisory L.P. lifted its position in shares of Macerich by 69.1% in the 2nd quarter. CSat Investment Advisory L.P. now owns 2,611 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 1,067 shares during the period. Finally, Machina Capital S.A.S. lifted its position in shares of Macerich by 195.7% in the 2nd quarter. Machina Capital S.A.S. now owns 3,463 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 2,292 shares during the period. 97.65% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have commented on the company. SunTrust Banks reduced their price objective on Macerich from $43.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. Zacks Investment Research upgraded Macerich from a “sell” rating to a “hold” rating and set a $30.00 target price for the company in a research report on Monday, August 26th. BMO Capital Markets downgraded Macerich from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $40.00 to $33.00 in a research report on Thursday, September 26th. Barclays set a $33.00 target price on Macerich and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, Citigroup cut their target price on Macerich from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.96.
Shares of Macerich stock traded down $0.03 during midday trading on Wednesday, hitting $27.65. 70,412 shares of the company were exchanged, compared to its average volume of 1,531,134. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $4.10 billion, a P/E ratio of 7.18, a PEG ratio of 4.39 and a beta of 0.77. Macerich Co has a 52 week low of $27.50 and a 52 week high of $53.61. The firm has a 50 day simple moving average of $30.34 and a 200-day simple moving average of $35.55.
Macerich (NYSE:MAC) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.02. Macerich had a return on equity of 3.49% and a net margin of 11.59%. The firm had revenue of $227.97 million during the quarter, compared to the consensus estimate of $213.18 million. During the same quarter in the previous year, the company posted $0.96 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts expect that Macerich Co will post 3.55 earnings per share for the current year.
Macerich Company Profile
Macerich, an S&P 500 company, is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.
Featured Article: Why is insider trading harmful?
Want to see what other hedge funds are holding MAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macerich Co (NYSE:MAC).
Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with MarketBeat.com's FREE daily email newsletter.