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Starboard Value reports stake in Macerich

Hedge fund Starboard Value LP reported ownership of 500,000 shares of mall-focused real estate investment trust Macerich Co. in its most recent investor ownership filing.

In the filing, Starboard said the roughly 0.36% stake of Macerich's 140,772,872 shares outstanding as of Nov. 2 was valued at $27.5 million. It did not report ownership of any shares of Macerich in its August ownership filing.

Hedge fund Third Point LLC reported ownership of 1,726,000 shares of Macerich in its third-quarter ownership filing. The firm valued the roughly 1.23% stake at $94.9 million in the filing.

Bloomberg News reported in early November that Third Point had accumulated a nearly 5% stake in Macerich.

Third Point also did not report ownership of any shares of Macerich in the prior quarter.