Macerich Company (The) (NYSE:MAC) Stake Lowered by State Treasurer State of Michigan

State Treasurer State of Michigan reduced its position in shares of Macerich Company (The) (NYSE:MAC) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,108 shares of the real estate investment trust’s stock after selling 600 shares during the period. State Treasurer State of Michigan’s holdings in Macerich Company (The) were worth $2,271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Advantus Capital Management Inc increased its position in Macerich Company (The) by 0.4% in the first quarter. Advantus Capital Management Inc now owns 12,020 shares of the real estate investment trust’s stock worth $774,000 after buying an additional 47 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Macerich Company (The) by 3.1% in the first quarter. Pacer Advisors Inc. now owns 2,571 shares of the real estate investment trust’s stock valued at $166,000 after buying an additional 77 shares in the last quarter. Mason Street Advisors LLC increased its position in shares of Macerich Company (The) by 1.2% in the first quarter. Mason Street Advisors LLC now owns 16,705 shares of the real estate investment trust’s stock valued at $1,076,000 after buying an additional 190 shares in the last quarter. Shell Asset Management Co. increased its position in shares of Macerich Company (The) by 1.9% in the first quarter. Shell Asset Management Co. now owns 12,593 shares of the real estate investment trust’s stock valued at $811,000 after buying an additional 231 shares in the last quarter. Finally, Ffcm LLC increased its position in shares of Macerich Company (The) by 4.3% in the first quarter. Ffcm LLC now owns 7,980 shares of the real estate investment trust’s stock valued at $514,000 after buying an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Shares of Macerich Company (NYSE:MAC) traded down 2.46% during trading on Friday, reaching $53.14. The company’s stock had a trading volume of 2,132,079 shares. The stock has a market cap of $7.51 billion, a P/E ratio of 52.25 and a beta of 0.77. The stock has a 50-day moving average of $57.84 and a 200-day moving average of $61.59. Macerich Company has a 52-week low of $52.75 and a 52-week high of $83.71.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Friday, August 18th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis 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 currently 278.43%.

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Several research analysts have recently commented on the company. BidaskClub downgraded Macerich Company (The) from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research downgraded Macerich Company (The) from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Jefferies Group LLC reiterated a “hold” rating and set a $57.00 target price on shares of Macerich Company (The) in a research note on Monday, July 17th. Boenning Scattergood reiterated a “hold” rating on shares of Macerich Company (The) in a research note on Friday, August 4th. Finally, Mizuho downgraded Macerich Company (The) from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $84.00 to $63.00 in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. Macerich Company (The) currently has a consensus rating of “Hold” and an average target price of $69.79.

In other news, CEO Arthur M. Coppola sold 100,000 shares of the firm’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $58.13, for a total value of $5,813,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.75% of the stock is owned by company 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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