Forward Management LLC maintained its stake in Macerich Company (The) (NYSE:MAC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,000 shares of the real estate investment trust’s stock at the end of the second quarter. Forward Management LLC’s holdings in Macerich Company (The) were worth $1,277,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of MAC. 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 worth $166,000 after buying an additional 77 shares during the period. Advisory Services Network LLC acquired a new position in shares of Macerich Company (The) during the first quarter worth about $167,000. Parametrica Management Ltd acquired a new position in shares of Macerich Company (The) during the second quarter worth about $222,000. BB&T Securities LLC acquired a new position in shares of Macerich Company (The) during the first quarter worth about $234,000. Finally, Sawtooth Solutions LLC acquired a new position in shares of Macerich Company (The) during the first quarter worth about $244,000. 95.43% of the stock is owned by hedge funds and other institutional investors.

Shares of Macerich Company (NYSE MAC) opened at 57.89 on Friday. The stock’s 50 day moving average price is $58.36 and its 200 day moving average price is $62.18. Macerich Company has a 12-month low of $54.98 and a 12-month high of $85.48. The firm has a market cap of $8.19 billion, a PE ratio of 56.92 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 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. Macerich Company (The) had a net margin of 14.39% and a return on equity of 3.38%. The firm had revenue of $247.20 million for the quarter, compared to analysts’ expectations of $218.62 million. During the same period in the previous year, the company posted $1.02 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts predict that Macerich Company will post $1.03 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders 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 yield of 4.91%. The ex-dividend date is Wednesday, August 16th. Macerich Company (The)’s payout ratio is 278.43%.

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A number of brokerages have recently issued reports on MAC. 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 reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Macerich Company (The) in a research note on Monday, July 17th. BidaskClub downgraded Macerich Company (The) from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Barclays PLC dropped their price objective on Macerich Company (The) from $66.00 to $63.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 19th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Macerich Company (The) in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. Macerich Company (The) has a consensus rating of “Hold” and a consensus price target of $70.46.

In other Macerich Company (The) news, CEO Arthur M. Coppola sold 100,000 shares of Macerich Company (The) stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $58.13, for a total transaction of $5,813,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.75% of the company’s stock.

About Macerich Company (The)

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.

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

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