Shell Asset Management Co. cut its stake in Macerich Company (The) (NYSE:MAC) by 45.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,851 shares of the real estate investment trust’s stock after selling 5,742 shares during the period. Shell Asset Management Co.’s holdings in Macerich Company (The) were worth $398,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MAC. BlackRock Inc. boosted its position in Macerich Company (The) by 2,249.6% in the first quarter. BlackRock Inc. now owns 12,358,247 shares of the real estate investment trust’s stock valued at $795,870,000 after buying an additional 11,832,272 shares in the last quarter. Morgan Stanley boosted its stake in Macerich Company (The) by 104.8% in the first quarter. Morgan Stanley now owns 5,649,199 shares of the real estate investment trust’s stock worth $363,809,000 after buying an additional 2,890,935 shares during the period. Russell Investments Group Ltd. boosted its stake in Macerich Company (The) by 188.1% in the second quarter. Russell Investments Group Ltd. now owns 649,525 shares of the real estate investment trust’s stock worth $37,775,000 after buying an additional 424,049 shares during the period. Vanguard Group Inc. boosted its stake in Macerich Company (The) by 1.6% in the first quarter. Vanguard Group Inc. now owns 22,714,895 shares of the real estate investment trust’s stock worth $1,462,838,000 after buying an additional 353,936 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Macerich Company (The) by 352.9% in the first quarter. Canada Pension Plan Investment Board now owns 374,483 shares of the real estate investment trust’s stock worth $24,117,000 after buying an additional 291,800 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Shares of Macerich Company (NYSE MAC) opened at 55.62 on Wednesday. The firm has a 50-day moving average price of $58.26 and a 200-day moving average price of $61.79. Macerich Company has a 12 month low of $54.98 and a 12 month high of $83.71. The stock has a market cap of $7.87 billion, a PE ratio of 54.69 and a beta of 0.77.

Macerich Company (The) (NYSE:MAC) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.04. The company had revenue of $247.20 million during the quarter, compared to analysts’ expectations of $218.62 million. Macerich Company (The) had a return on equity of 3.38% and a net margin of 14.39%. The firm’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.02 EPS. Equities analysts forecast that Macerich Company will post $1.04 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders 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 5.11%. Macerich Company (The)’s payout ratio is currently 278.43%.

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MAC has been the subject of a number of research reports. Zacks Investment Research upgraded Macerich Company (The) from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. Barclays PLC reduced 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 report on Wednesday, April 19th. Citigroup Inc. reiterated a “neutral” rating on shares of Macerich Company (The) in a research report on Thursday, May 11th. Mizuho cut Macerich Company (The) from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $84.00 to $63.00 in a research report on Tuesday, May 30th. Finally, ValuEngine cut Macerich Company (The) from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $69.79.

In other Macerich Company (The) news, CEO Arthur M. Coppola sold 100,000 shares of Macerich Company (The) stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $58.13, for a total transaction of $5,813,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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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