Macerich Company (The) $MAC Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its stake in shares of Macerich Company (The) (NYSE:MAC) by 26.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,748 shares of the real estate investment trust’s stock after acquiring an additional 26,095 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Macerich were worth $2,002,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its holdings in shares of Macerich by 47.7% in the 2nd quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 972 shares during the period. Quarry LP boosted its holdings in shares of Macerich by 2,691.6% in the 1st quarter. Quarry LP now owns 3,322 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 3,203 shares during the period. Signaturefd LLC lifted its position in Macerich by 34.9% in the 1st quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 862 shares during the last quarter. Archer Investment Corp bought a new stake in Macerich in the 1st quarter valued at about $98,000. Finally, Inspire Advisors LLC bought a new stake in Macerich in the 1st quarter valued at about $178,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Price Performance

Shares of Macerich stock opened at $16.91 on Friday. The firm has a fifty day simple moving average of $17.73 and a 200-day simple moving average of $16.62. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.00. Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -9.66, a PEG 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 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). The company had revenue of $249.79 million for the quarter, compared to analyst estimates of $245.19 million. Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. Macerich’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 earnings per share. On average, sell-side analysts expect that Macerich Company will post 1.55 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on MAC shares. JPMorgan Chase & Co. lifted their price objective 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. Weiss Ratings restated a “sell (d+)” rating on shares of Macerich in a research report on Wednesday, October 8th. Scotiabank boosted their price target on shares of Macerich from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 28th. Evercore ISI boosted their price target on shares of Macerich from $18.00 to $20.00 and gave the stock an “in-line” rating in a research report on Monday, September 15th. 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 research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.