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

State Treasurer State of Michigan decreased its holdings in shares of Macerich Company (The) (NYSE:MAC) by 15.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,008 shares of the real estate investment trust’s stock after selling 6,100 shares during the quarter. State Treasurer State of Michigan’s holdings in Macerich Company (The) were worth $1,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Pacer Advisors Inc. increased its holdings in shares of Macerich Company (The) by 7.9% in the second quarter. Pacer Advisors Inc. now owns 2,774 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 203 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Macerich Company (The) in the third quarter worth $216,000. Parametrica Management Ltd bought a new position in shares of Macerich Company (The) in the second quarter worth $222,000. Sun Life Financial INC increased its holdings in shares of Macerich Company (The) by 1,864.0% in the second quarter. Sun Life Financial INC now owns 3,928 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 3,728 shares during the period. Finally, Riverhead Capital Management LLC increased its holdings in shares of Macerich Company (The) by 11.8% in the second quarter. Riverhead Capital Management LLC now owns 4,111 shares of the real estate investment trust’s stock worth $239,000 after purchasing an additional 435 shares during the period. 97.59% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently issued reports on MAC. Mizuho reiterated a “hold” rating and issued a $60.00 target price on shares of Macerich Company (The) in a research report on Friday. Royal Bank Of Canada reiterated a “buy” rating and issued a $66.00 target price on shares of Macerich Company (The) in a research report on Thursday, November 2nd. Boenning Scattergood set a $75.00 target price on shares of Macerich Company (The) and gave the stock a “buy” rating in a research report on Wednesday, November 1st. BMO Capital Markets set a $55.00 target price on shares of Macerich Company (The) and gave the stock a “hold” rating in a research report on Monday, October 30th. Finally, KeyCorp reiterated a “buy” rating and issued a $75.00 target price on shares of Macerich Company (The) in a research report on Thursday, September 28th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $66.80.

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Macerich Company (MAC) traded up $1.96 during trading on Monday, hitting $64.37. 5,479,200 shares of the stock were exchanged, compared to its average volume of 1,439,448. Macerich Company has a one year low of $52.12 and a one year high of $73.34. The stock has a market capitalization of $9,061.55, a price-to-earnings ratio of 16.17, a P/E/G ratio of 3.04 and a beta of 0.80. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.25.

Macerich Company (The) (NYSE:MAC) last released its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.86). Macerich Company (The) had a return on equity of 3.56% and a net margin of 14.92%. The company had revenue of $242.50 million during the quarter, compared to the consensus estimate of $226.00 million. During the same period in the previous year, the company earned $1.04 earnings per share. Macerich Company (The)’s quarterly revenue was down 4.3% on a year-over-year basis. sell-side analysts anticipate that Macerich Company will post 3.95 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a $0.74 dividend. This is an increase from Macerich Company (The)’s previous quarterly dividend of $0.71. This represents a $2.96 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Thursday, November 9th. Macerich Company (The)’s dividend payout ratio is presently 281.91%.

Macerich Company (The) 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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