New Mexico Educational Retirement Board reduced its position in Macerich Company (The) (NYSE:MAC) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,262 shares of the real estate investment trust’s stock after selling 1,700 shares during the period. New Mexico Educational Retirement Board’s holdings in Macerich Company (The) were worth $1,507,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. FDO Partners LLC bought a new position in Macerich Company (The) during the first quarter worth approximately $1,201,000. SG Americas Securities LLC raised its stake in Macerich Company (The) by 24.1% in the first quarter. SG Americas Securities LLC now owns 39,432 shares of the real estate investment trust’s stock valued at $2,539,000 after buying an additional 7,655 shares in the last quarter. Global X Management Co. LLC raised its stake in Macerich Company (The) by 45.5% in the first quarter. Global X Management Co. LLC now owns 5,185 shares of the real estate investment trust’s stock valued at $334,000 after buying an additional 1,621 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Macerich Company (The) by 1.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 95,143 shares of the real estate investment trust’s stock valued at $6,127,000 after buying an additional 1,083 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised 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 valued at $24,117,000 after buying an additional 291,800 shares in the last quarter. 95.43% of the stock is owned by hedge funds and other institutional investors.

Shares of Macerich Company (NYSE:MAC) opened at 56.72 on Friday. The stock has a market cap of $8.02 billion, a P/E ratio of 55.77 and a beta of 0.77. The firm’s 50-day moving average price is $58.35 and its 200-day moving average price is $62.09. Macerich Company has a 52-week low of $54.98 and a 52-week high of $84.79.

Macerich Company (The) (NYSE:MAC) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $247.20 million during the quarter, compared to the consensus estimate of $218.62 million. Macerich Company (The) had a net margin of 14.39% and a return on equity of 3.38%. Macerich Company (The)’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 EPS. Equities analysts predict that Macerich Company will post $1.03 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 issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Wednesday, August 16th. Macerich Company (The)’s dividend payout ratio (DPR) is presently 278.43%.

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Several equities research analysts recently issued reports on MAC shares. Barclays PLC dropped their price objective on Macerich Company (The) to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. ValuEngine lowered Macerich Company (The) from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub raised Macerich Company (The) from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Citigroup Inc. reissued a “neutral” rating on shares of Macerich Company (The) in a research note on Thursday, May 11th. Finally, Mizuho lowered Macerich Company (The) from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $84.00 to $63.00 in a research note on Tuesday, May 30th. One investment 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. Macerich Company (The) has a consensus rating of “Hold” and an average target price of $70.46.

In other Macerich Company (The) news, CEO Arthur M. Coppola sold 100,000 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $58.13, for a total transaction of $5,813,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.75% of the stock is owned by corporate insiders.

About Macerich Company (The)

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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