Municipal Employees Retirement System of Michigan lessened its position in Macerich Co (NYSE:MAC) by 26.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,810 shares of the real estate investment trust’s stock after selling 1,020 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Macerich were worth $154,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sentry Investment Management LLC lifted its holdings in shares of Macerich by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 9,690 shares of the real estate investment trust’s stock worth $563,000 after acquiring an additional 102 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Macerich by 0.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,917 shares of the real estate investment trust’s stock worth $1,098,000 after buying an additional 177 shares during the period. Pacer Advisors Inc. increased its stake in Macerich by 7.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,774 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 203 shares during the period. Riverhead Capital Management LLC increased its stake in Macerich by 11.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,111 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 435 shares during the period. Finally, Ffcm LLC increased its stake in Macerich by 6.4% in the 2nd quarter. Ffcm LLC now owns 8,490 shares of the real estate investment trust’s stock worth $493,000 after buying an additional 510 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Macerich Co (MAC) traded down $0.20 during midday trading on Friday, reaching $66.57. 1,888,300 shares of the company’s stock were exchanged, compared to its average volume of 1,489,393. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.25. The stock has a market cap of $9,399.41, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 3.13 and a beta of 0.88. Macerich Co has a 1-year low of $52.12 and a 1-year high of $73.34.

Macerich (NYSE:MAC) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.86). The business had revenue of $242.50 million for the quarter, compared to analysts’ expectations of $226.00 million. Macerich had a net margin of 14.92% and a return on equity of 3.56%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the business posted $1.04 EPS. equities research analysts expect that Macerich Co will post 3.95 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were given a dividend of $0.74 per share. This is an increase from Macerich’s previous quarterly dividend of $0.71. The ex-dividend date was Thursday, November 9th. This represents a $2.96 dividend on an annualized basis and a yield of 4.45%. Macerich’s dividend payout ratio (DPR) is 281.91%.

Several research analysts recently commented on MAC shares. Boenning Scattergood raised shares of Macerich from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 23rd. KeyCorp reaffirmed a “buy” rating and issued a $75.00 price target on shares of Macerich in a research note on Monday, August 28th. BMO Capital Markets started coverage on shares of Macerich in a research note on Monday, September 11th. They issued a “market perform” rating and a $55.00 price target on the stock. Jefferies Group reaffirmed a “hold” rating and issued a $57.00 price target on shares of Macerich in a research note on Tuesday, September 26th. Finally, J P Morgan Chase & Co raised shares of Macerich from a “neutral” rating to an “overweight” rating and set a $68.00 price target on the stock in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $66.50.

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Macerich 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 (NYSE:MAC)

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