The The Macerich Co. (MAC) Shares Sold by Louisiana State Employees Retirement System

The The Macerich Co. (MAC) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its stake in shares of The Macerich Co. (NYSE:MAC) by 7.2% during the third quarter, Holdings Channel reports. The institutional investor owned 7,700 shares of the real estate investment trust’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in The Macerich were worth $623,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MAC. BlackRock Fund Advisors increased its position in shares of The Macerich by 22.3% in the second quarter. BlackRock Fund Advisors now owns 4,809,198 shares of the real estate investment trust’s stock valued at $410,657,000 after buying an additional 877,068 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of The Macerich by 28.9% in the second quarter. Bank of New York Mellon Corp now owns 3,167,891 shares of the real estate investment trust’s stock valued at $270,504,000 after buying an additional 711,058 shares in the last quarter. Cbre Clarion Securities LLC increased its position in shares of The Macerich by 17.2% in the second quarter. Cbre Clarion Securities LLC now owns 1,423,165 shares of the real estate investment trust’s stock valued at $121,524,000 after buying an additional 209,000 shares in the last quarter. Legal & General Group Plc increased its position in shares of The Macerich by 5.6% in the second quarter. Legal & General Group Plc now owns 986,694 shares of the real estate investment trust’s stock valued at $84,231,000 after buying an additional 52,754 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of The Macerich by 9.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 838,991 shares of the real estate investment trust’s stock valued at $71,642,000 after buying an additional 75,444 shares in the last quarter. Institutional investors and hedge funds own 91.83% of the company’s stock.

The Macerich Co. (NYSE:MAC) traded up 0.98% during mid-day trading on Friday, hitting $69.88. 1,140,503 shares of the stock traded hands. The Macerich Co. has a 12 month low of $66.00 and a 12 month high of $94.51. The company’s 50 day moving average is $69.76 and its 200 day moving average is $77.69. The company has a market cap of $10.04 billion, a P/E ratio of 11.71 and a beta of 0.82.

The Macerich (NYSE:MAC) last posted its quarterly earnings results on Thursday, October 27th. The real estate investment trust reported $1.04 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.04. The company had revenue of $253.37 million for the quarter, compared to the consensus estimate of $257.87 million. The Macerich had a net margin of 82.09% and a return on equity of 18.73%. The firm’s revenue was down 22.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 EPS. On average, analysts expect that The Macerich Co. will post $3.55 earnings per share for the current fiscal year.

MAC has been the subject of several research analyst reports. BTIG Research began coverage on shares of The Macerich in a research report on Tuesday, January 3rd. They set a “buy” rating and a $82.00 price objective for the company. Zacks Investment Research downgraded shares of The Macerich from a “hold” rating to a “sell” rating in a report on Thursday, January 12th. KeyCorp upgraded shares of The Macerich from a “sector weight” rating to an “overweight” rating in a report on Thursday, December 15th. Deutsche Bank AG upped their price target on shares of The Macerich from $84.00 to $87.00 and gave the stock a “hold” rating in a report on Tuesday, October 4th. Finally, Mizuho reiterated a “buy” rating on shares of The Macerich in a report on Friday, December 23rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $83.73.

In related news, EVP Hern Thomas E. O sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the transaction, the executive vice president now owns 55,077 shares of the company’s stock, valued at approximately $3,855,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Dana K. Anderson purchased 10,000 shares of The Macerich stock in a transaction that occurred on Wednesday, November 9th. The stock was bought at an average cost of $67.78 per share, for a total transaction of $677,800.00. The disclosure for this purchase can be found here. Insiders sold a total of 8,000 shares of company stock worth $561,185 in the last ninety days. 3.54% of the stock is currently owned by insiders.

About The Macerich

The Macerich 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. It owns 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers.

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