Great West Life Assurance Co. Can decreased its position in Macerich Company (The) (NYSE:MAC) by 25.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 154,355 shares of the real estate investment trust’s stock after selling 53,425 shares during the period. Great West Life Assurance Co. Can’s holdings in Macerich Company (The) were worth $8,951,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake 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 in the last quarter. Advisory Services Network LLC bought a new position in shares of Macerich Company (The) during the first quarter valued at about $167,000. Parametrica Management Ltd bought a new position in shares of Macerich Company (The) during the second quarter valued at about $222,000. BB&T Securities LLC bought a new position in shares of Macerich Company (The) during the first quarter valued at about $234,000. Finally, Sawtooth Solutions LLC bought a new position in shares of Macerich Company (The) during the first quarter valued at about $244,000. 95.43% of the stock is owned by institutional investors.

Macerich Company (NYSE MAC) opened at 56.72 on Friday. The company has a 50-day moving average price of $58.35 and a 200-day moving average price of $62.09. Macerich Company has a 12-month low of $54.98 and a 12-month high of $84.79. The firm has a market cap of $8.02 billion, a PE ratio of 55.77 and a beta of 0.77.

Macerich Company (The) (NYSE:MAC) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.98 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $247.20 million during the quarter, compared to analysts’ expectations of $218.62 million. During the same period last year, the company posted $1.02 EPS. The company’s revenue was down 4.9% on a year-over-year basis. On average, equities analysts predict that Macerich Company will post $1.03 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.01%. Macerich Company (The)’s dividend payout ratio (DPR) is 278.43%.

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MAC has been the subject of several analyst reports. Zacks Investment Research cut Macerich Company (The) from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Jefferies Group LLC reissued a “hold” rating and issued a $57.00 price objective on shares of Macerich Company (The) in a report on Monday, July 17th. BidaskClub cut Macerich Company (The) from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Citigroup Inc. reissued a “neutral” rating on shares of Macerich Company (The) in a report on Thursday, May 11th. Finally, Mizuho cut Macerich Company (The) from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $84.00 to $63.00 in a report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. Macerich Company (The) presently has a consensus rating of “Hold” and a consensus price target of $70.46.

In other news, CEO Arthur M. Coppola sold 100,000 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.75% of the company’s stock.

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.

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

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