Public Sector Pension investment Board reduced its stake in shares of Macerich Company (The) (NYSE:MAC) by 51.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,211 shares of the real estate investment trust’s stock after selling 14,200 shares during the quarter. Public Sector Pension investment Board’s holdings in Macerich Company (The) were worth $767,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MAC. BlackRock Inc. increased its stake in Macerich Company (The) by 2,249.6% during the first quarter. BlackRock Inc. now owns 12,358,247 shares of the real estate investment trust’s stock worth $795,870,000 after acquiring an additional 11,832,272 shares during the last quarter. Morgan Stanley increased its stake in Macerich Company (The) by 104.8% during the first quarter. Morgan Stanley now owns 5,649,199 shares of the real estate investment trust’s stock worth $363,809,000 after acquiring an additional 2,890,935 shares during the last quarter. AEW Capital Management L P increased its stake in Macerich Company (The) by 306.7% during 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 acquiring an additional 2,362,121 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Macerich Company (The) by 140.0% during the second quarter. Canada Pension Plan Investment Board now owns 898,583 shares of the real estate investment trust’s stock worth $52,172,000 after acquiring an additional 524,100 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Macerich Company (The) by 188.1% during 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 acquiring an additional 424,049 shares during the last quarter. 96.96% of the stock is currently owned by institutional investors.

Macerich Company (NYSE:MAC) opened at 57.12 on Friday. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 56.17 and a beta of 0.80. Macerich Company has a 12 month low of $52.12 and a 12 month high of $77.93. The firm’s 50 day moving average price is $54.20 and its 200 day moving average price is $58.67.

Macerich Company (The) (NYSE:MAC) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.04. The business 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%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 EPS. On average, equities research analysts predict that Macerich Company will post $1.07 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Friday, August 18th were issued a dividend of $0.71 per share. The ex-dividend date was Wednesday, August 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.97%. Macerich Company (The)’s dividend payout ratio is currently 278.43%.

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Several brokerages have weighed in on MAC. BidaskClub cut Macerich Company (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Zacks Investment Research cut Macerich Company (The) from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Jefferies Group LLC reissued a “hold” rating and set a $57.00 price objective on shares of Macerich Company (The) in a research note on Monday, July 17th. Boenning Scattergood reissued a “hold” rating on shares of Macerich Company (The) in a research note on Friday, August 4th. Finally, KeyCorp reissued a “buy” rating and set a $75.00 price objective on shares of Macerich Company (The) in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $66.93.

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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