Macerich Company (The) (MAC) Position Decreased by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in shares of Macerich Company (The) (NYSE:MAC) by 89.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 63,519 shares of the real estate investment trust’s stock after selling 567,600 shares during the period. Renaissance Technologies LLC’s holdings in Macerich Company (The) were worth $4,091,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Teachers Advisors LLC raised its stake in shares of Macerich Company (The) by 4.5% in the fourth quarter. Teachers Advisors LLC now owns 192,817 shares of the real estate investment trust’s stock valued at $13,659,000 after buying an additional 8,250 shares during the last quarter. Kentucky Retirement Systems bought a new stake in shares of Macerich Company (The) during the fourth quarter valued at approximately $621,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Macerich Company (The) during the fourth quarter worth $277,000. Chevy Chase Trust Holdings Inc. increased its stake in shares of Macerich Company (The) by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 104,205 shares of the real estate investment trust’s stock worth $6,711,000 after buying an additional 3,322 shares during the period. Finally, Gulf International Bank UK Ltd increased its stake in shares of Macerich Company (The) by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 40,892 shares of the real estate investment trust’s stock worth $2,633,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Shares of Macerich Company (NYSE:MAC) opened at 53.14 on Friday. The stock has a 50 day moving average of $57.84 and a 200-day moving average of $61.59. Macerich Company has a one year low of $52.75 and a one year high of $83.71. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 52.25 and a beta of 0.77.

Macerich Company (The) (NYSE:MAC) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.04. The business had revenue of $247.20 million during the quarter, compared to analysts’ expectations of $218.62 million. Macerich Company (The) had a return on equity of 3.38% and a net margin of 14.39%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 earnings per share. On average, equities analysts expect that Macerich Company will post $1.04 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Friday, August 18th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.34%. The ex-dividend date of this dividend is Wednesday, August 16th. Macerich Company (The)’s payout ratio is 278.43%.

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MAC has been the subject of a number of research analyst reports. Citigroup Inc. reiterated a “neutral” rating on shares of Macerich Company (The) in a research report on Thursday, May 11th. Mizuho lowered shares of Macerich Company (The) from a “buy” rating to a “neutral” rating and cut their target price for the stock from $84.00 to $63.00 in a research note on Tuesday, May 30th. ValuEngine lowered shares of Macerich Company (The) from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded shares of Macerich Company (The) from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 28th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $57.00 target price on shares of Macerich Company (The) in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $69.79.

In related news, CEO Arthur M. Coppola sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $58.13, for a total transaction of $5,813,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.75% of the stock is currently owned by insiders.

Macerich Company (The) Company Profile

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.

Institutional Ownership by Quarter for Macerich Company (The) (NYSE:MAC)

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