State of Alaska Department of Revenue Buys 26,841 Shares of The Macerich Company (NYSE:MAC)

State of Alaska Department of Revenue lifted its stake in The Macerich Company (NYSE:MAC) by 11.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 252,822 shares of the real estate investment trust’s stock after acquiring an additional 26,841 shares during the period. State of Alaska Department of Revenue’s holdings in Macerich were worth $5,035,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in shares of Macerich in the second quarter valued at approximately $287,000. GAMMA Investing LLC grew its stake in Macerich by 40.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 933 shares during the last quarter. Creative Planning raised its holdings in Macerich by 5.1% in the 3rd quarter. Creative Planning now owns 318,650 shares of the real estate investment trust’s stock worth $5,812,000 after acquiring an additional 15,520 shares during the period. Leisure Capital Management lifted its position in Macerich by 48.7% during the 3rd quarter. Leisure Capital Management now owns 54,969 shares of the real estate investment trust’s stock worth $1,003,000 after acquiring an additional 18,000 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in Macerich during the third quarter valued at about $256,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total value of $1,303,120.51. Following the sale, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. This represents a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by corporate insiders.

Macerich Price Performance

Shares of Macerich stock opened at $20.83 on Friday. The firm has a market cap of $5.18 billion, a P/E ratio of 53.41, a price-to-earnings-growth ratio of 0.72 and a beta of 2.50. The firm’s 50-day simple moving average is $20.50 and its 200-day simple moving average is $18.41. The Macerich Company has a twelve month low of $12.99 and a twelve month high of $22.27. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92.

Macerich (NYSE:MAC) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). Macerich had a net margin of 8.98% and a return on equity of 3.15%. The company had revenue of $220.20 million for the quarter, compared to analyst estimates of $208.54 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts expect that The Macerich Company will post 1.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MAC. Morgan Stanley raised Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective for the company in a research report on Wednesday, January 15th. Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. Compass Point raised their price objective on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. StockNews.com cut shares of Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Piper Sandler raised their price target on shares of Macerich from $14.00 to $17.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.