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

State of Alaska Department of Revenue grew its stake in shares of The Macerich Company (NYSE:MAC - Free Report) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 252,822 shares of the real estate investment trust's stock after purchasing an additional 26,841 shares during the period. State of Alaska Department of Revenue owned approximately 0.10% of Macerich worth $5,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of Macerich by 152.2% in the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 933 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Macerich by 40.9% in the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 933 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Macerich by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust's stock valued at $150,000 after purchasing an additional 2,161 shares in the last quarter. Custom Index Systems LLC boosted its position in shares of Macerich by 8.7% during the fourth quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust's stock valued at $232,000 after buying an additional 928 shares during the last quarter. Finally, KBC Group NV grew its holdings in Macerich by 92.1% during the fourth quarter. KBC Group NV now owns 11,814 shares of the real estate investment trust's stock worth $235,000 after buying an additional 5,664 shares in the last quarter. Institutional investors own 87.38% of the company's stock.

Insiders Place Their Bets

In other news, Director Andrea M. Stephen sold 63,289 shares of Macerich 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 completion of the transaction, the director now directly owns 83,479 shares in the company, valued at approximately $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.53% of the company's stock.

Macerich Stock Performance

Shares of MAC stock traded up $0.43 on Tuesday, hitting $20.84. 1,207,156 shares of the stock were exchanged, compared to its average volume of 1,576,191. The firm's 50 day moving average is $20.48 and its two-hundred day moving average is $18.51. The Macerich Company has a one year low of $12.99 and a one year high of $22.27. The firm has a market capitalization of $5.18 billion, a PE ratio of 53.42, a P/E/G ratio of 0.72 and a beta of 2.50. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Analysts Set New Price Targets

Several brokerages have weighed in on MAC. Piper Sandler raised their price objective on Macerich from $14.00 to $17.00 and gave the company an "underweight" rating in a research note on Wednesday, December 11th. StockNews.com lowered shares of Macerich from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Morgan Stanley raised shares of 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 raised shares of Macerich from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Macerich in a research note on Tuesday, December 17th. They issued a "hold" rating and a $22.00 target price on the stock. 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 stock. According to MarketBeat, Macerich has an average rating of "Hold" and an average price target 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.