State of New Jersey Common Pension Fund D Acquires 26,095 Shares of Macerich Company (The) $MAC

State of New Jersey Common Pension Fund D raised its holdings in shares of Macerich Company (The) (NYSE:MAC) by 26.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 123,748 shares of the real estate investment trust’s stock after acquiring an additional 26,095 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Macerich were worth $2,002,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Macerich by 3.4% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 278,806 shares of the real estate investment trust’s stock valued at $4,511,000 after purchasing an additional 9,089 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Macerich by 6.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 139,352 shares of the real estate investment trust’s stock valued at $2,224,000 after purchasing an additional 7,865 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Macerich during the 2nd quarter valued at $8,678,000. Bayforest Capital Ltd acquired a new stake in Macerich during the 2nd quarter valued at $346,000. Finally, TD Asset Management Inc lifted its holdings in Macerich by 6.0% during the 2nd quarter. TD Asset Management Inc now owns 60,802 shares of the real estate investment trust’s stock valued at $984,000 after purchasing an additional 3,460 shares during the last quarter. 87.38% of the stock is owned by institutional investors.

Macerich Stock Performance

Macerich stock opened at $16.91 on Friday. Macerich Company has a 12-month low of $12.48 and a 12-month high of $22.27. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.00. The business’s 50-day moving average price is $17.73 and its two-hundred day moving average price is $16.62. The stock has a market cap of $4.27 billion, a PE ratio of -9.66, a P/E/G ratio of 2.96 and a beta of 2.23.

Macerich (NYSE:MAC) last released its earnings results on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The business had revenue of $249.79 million during the quarter, compared to the consensus estimate of $245.19 million. Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 EPS. As a group, analysts expect that Macerich Company will post 1.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MAC. Scotiabank raised their price target on Macerich from $16.00 to $18.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Macerich in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Wednesday, August 27th. Bank of America upgraded shares of Macerich from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $19.00 to $23.00 in a research note on Friday, September 26th. Finally, Wall Street Zen cut shares of Macerich from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Macerich has a consensus rating of “Hold” and an average target price of $20.11.

Macerich 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.