Meiji Yasuda Asset Management Co Ltd. cut its position in Macerich Company (The) (NYSE:MAC) by 67.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 4,993 shares of the real estate investment trust’s stock after selling 10,270 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Macerich Company (The) were worth $290,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MAC. Federated Investors Inc. PA acquired a new stake in shares of Macerich Company (The) during the second quarter worth $392,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Macerich Company (The) by 1.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 228,170 shares of the real estate investment trust’s stock worth $13,248,000 after buying an additional 2,548 shares during the period. ALGEBRIS UK Ltd acquired a new stake in shares of Macerich Company (The) during the second quarter worth $3,945,000. AEW Capital Management L P boosted its stake in shares of Macerich Company (The) by 306.7% in the second quarter. AEW Capital Management L P now owns 3,132,200 shares of the real estate investment trust’s stock worth $35,531,000 after buying an additional 2,362,121 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Macerich Company (The) by 69.9% in the second quarter. BNP Paribas Arbitrage SA now owns 232,221 shares of the real estate investment trust’s stock worth $13,483,000 after buying an additional 95,529 shares during the period. Institutional investors and hedge funds own 96.98% of the company’s stock.

Macerich Company (NYSE:MAC) opened at 53.17 on Thursday. Macerich Company has a 52 week low of $52.12 and a 52 week high of $83.71. The company has a market cap of $7.52 billion, a P/E ratio of 52.28 and a beta of 0.77. The stock has a 50 day moving average of $57.21 and a 200 day moving average of $61.04.

Macerich Company (The) (NYSE:MAC) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $247.20 million for the quarter, compared to analyst estimates of $218.62 million. Macerich Company (The) had a net margin of 14.39% and a return on equity of 3.38%. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the firm posted $1.02 earnings per share. On average, analysts expect that Macerich Company will post $1.05 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Friday, August 18th will be given 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 5.34%. Macerich Company (The)’s dividend payout ratio (DPR) is presently 278.43%.

COPYRIGHT VIOLATION NOTICE: “Meiji Yasuda Asset Management Co Ltd. Sells 10,270 Shares of Macerich Company (The) (MAC)” was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/meiji-yasuda-asset-management-co-ltd-sells-10270-shares-of-macerich-company-the-mac/1533521.html.

A number of brokerages have weighed in on MAC. KeyCorp restated a “buy” rating and issued a $75.00 price objective on shares of Macerich Company (The) in a report on Monday. Boenning Scattergood upgraded shares of Macerich Company (The) from a “neutral” rating to an “outperform” rating in a report on Wednesday, August 23rd. BidaskClub cut shares of Macerich Company (The) from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Citigroup Inc. cut their price objective on shares of Macerich Company (The) from $66.00 to $61.00 and set a “neutral” rating on the stock in a report on Monday, August 14th. Finally, Zacks Investment Research upgraded shares of Macerich Company (The) from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $69.79.

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 document filed with the SEC, 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.

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

Receive News & Ratings for Macerich Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich Company (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.