State of Alaska Department of Revenue increased its stake in Macerich Co (NYSE:MAC) by 48.4% during the first quarter, Holdings Channel reports. The fund owned 52,492 shares of the real estate investment trust’s stock after buying an additional 17,116 shares during the period. State of Alaska Department of Revenue’s holdings in Macerich were worth $3,379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MAC. Municipal Employees Retirement System of Michigan increased its position in shares of Macerich by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,990 shares of the real estate investment trust’s stock valued at $323,000 after buying an additional 10 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Macerich by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,921 shares of the real estate investment trust’s stock valued at $490,000 after buying an additional 31 shares during the last quarter. Kemper Corp Master Retirement Trust increased its position in shares of Macerich by 1.8% in the third quarter. Kemper Corp Master Retirement Trust now owns 5,560 shares of the real estate investment trust’s stock valued at $450,000 after buying an additional 100 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Macerich by 0.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 56,928 shares of the real estate investment trust’s stock valued at $4,033,000 after buying an additional 220 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of Macerich by 14.7% in the third quarter. Neuberger Berman Group LLC now owns 3,112 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 398 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Macerich (NYSE:MAC)

Shares of Macerich Co (NYSE:MAC) traded down 1.77% during trading on Friday, hitting $64.95. The stock had a trading volume of 642,486 shares. The stock has a 50 day moving average of $64.59 and a 200 day moving average of $68.97. Macerich Co has a 52-week low of $62.14 and a 52-week high of $94.51. The firm has a market cap of $9.35 billion, a PE ratio of 18.45 and a beta of 0.79.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Monday, February 6th. The real estate investment trust reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.01. The business had revenue of $272 million for the quarter, compared to analysts’ expectations of $261.69 million. Macerich had a net margin of 49.65% and a return on equity of 11.24%. During the same quarter last year, the company posted $2.65 EPS. On average, equities analysts anticipate that Macerich Co will post $0.63 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Friday, May 5th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.30%. Macerich’s dividend payout ratio (DPR) is 83.04%.

COPYRIGHT VIOLATION NOTICE: This piece was first posted by Financial Market News and is the sole property of of Financial Market News. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.financial-market-news.com/2017/04/21/state-of-alaska-department-of-revenue-buys-17116-shares-of-macerich-co-mac.html.

Several research analysts have recently weighed in on MAC shares. Mizuho reissued a “buy” rating and issued a $82.00 price objective on shares of Macerich in a research report on Monday, March 13th. Zacks Investment Research raised Macerich from a “sell” rating to a “hold” rating in a research report on Wednesday. Barclays PLC lowered their price objective on Macerich from $66.00 to $63.00 and set an “equal weight” rating for the company in a research report on Wednesday. BTIG Research reissued a “buy” rating and issued a $82.00 price objective on shares of Macerich in a research report on Monday, April 3rd. Finally, Canaccord Genuity lowered their price objective on Macerich from $77.00 to $71.00 and set a “hold” rating for the company in a research report on Monday, March 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $75.07.

About Macerich

The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.

5 Day Chart for NYSE:MAC

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 Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich Co and related companies with MarketBeat.com's FREE daily email newsletter.