American International Group Inc. lowered its position in shares of Macerich Company (The) (NYSE:MAC) by 1.1% during the first quarter, Holdings Channel reports. The fund owned 45,988 shares of the real estate investment trust’s stock after selling 499 shares during the period. American International Group Inc.’s holdings in Macerich Company (The) were worth $2,962,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MAC. Pacer Advisors Inc. raised 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 during the last quarter. Advisory Services Network LLC acquired a new position in shares of Macerich Company (The) during the first quarter valued at approximately $167,000. Sawtooth Solutions LLC acquired a new position in shares of Macerich Company (The) during the first quarter valued at approximately $244,000. Pacad Investment Ltd. raised its position in shares of Macerich Company (The) by 1,700.0% in the fourth quarter. Pacad Investment Ltd. now owns 3,600 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 3,400 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Macerich Company (The) during the fourth quarter valued at approximately $277,000. 98.76% of the stock is owned by institutional investors and hedge funds.

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

Macerich Company (NYSE:MAC) opened at 57.77 on Friday. The company’s 50 day moving average price is $59.26 and its 200-day moving average price is $65.25. The company has a market cap of $8.19 billion, a P/E ratio of 50.68 and a beta of 0.78. Macerich Company has a one year low of $56.06 and a one year high of $94.51.

Macerich Company (The) (NYSE:MAC) last issued its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.03. Macerich Company (The) had a return on equity of 3.72% and a net margin of 16.01%. The firm had revenue of $219.90 million during the quarter, compared to analyst estimates of $222.65 million. During the same period last year, the company earned $0.87 EPS. Macerich Company (The)’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, analysts forecast that Macerich Company will post $0.84 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Friday, May 5th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend was Wednesday, May 3rd. Macerich Company (The)’s dividend payout ratio is currently 249.12%.

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Several brokerages have recently commented on MAC. Mizuho reissued a “buy” rating and set a $82.00 price objective on shares of Macerich Company (The) in a report on Monday, March 13th. BTIG Research reissued a “buy” rating and set a $82.00 price objective on shares of Macerich Company (The) in a report on Monday, April 3rd. Barclays PLC cut their target price 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. Zacks Investment Research raised Macerich Company (The) from a “sell” rating to a “hold” rating in a research note on Wednesday, April 19th. Finally, Citigroup Inc. reaffirmed a “neutral” rating on shares of Macerich Company (The) in a research note on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $73.71.

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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