The Macerich Company (NYSE:MAC) Shares Sold by Oregon Public Employees Retirement Fund
Oregon Public Employees Retirement Fund cut its stake in shares of The Macerich Company (NYSE:MAC) by 8.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 39,316 shares of the real estate investment trust’s stock after selling 3,500 shares during the period. Oregon Public Employees Retirement Fund’s holdings in The Macerich were worth $267,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. lifted its position in The Macerich by 75.7% during the 2nd quarter. Advisor Group Holdings Inc. now owns 149,133 shares of the real estate investment trust’s stock worth $1,338,000 after acquiring an additional 64,243 shares in the last quarter. Vanguard Group Inc. lifted its position in The Macerich by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 19,822,696 shares of the real estate investment trust’s stock worth $177,811,000 after acquiring an additional 447,029 shares in the last quarter. Brighton Jones LLC acquired a new position in The Macerich during the 2nd quarter worth approximately $105,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in The Macerich by 102.5% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 62,834 shares of the real estate investment trust’s stock worth $564,000 after acquiring an additional 31,807 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in The Macerich by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,164,136 shares of the real estate investment trust’s stock worth $19,411,000 after acquiring an additional 24,664 shares in the last quarter. 90.08% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on MAC shares. Compass Point raised The Macerich from a “neutral” rating to a “buy” rating in a research report on Monday, November 16th. TheStreet downgraded The Macerich from a “c-” rating to a “d” rating in a report on Thursday, August 13th. ValuEngine upgraded The Macerich from a “sell” rating to a “hold” rating in a report on Sunday, November 8th. Morgan Stanley downgraded The Macerich from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $8.00 to $6.50 in a report on Monday, September 14th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on The Macerich from $16.00 to $8.00 and set a “hold” rating on the stock in a report on Monday, July 27th. Eight analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $13.00.
The Macerich (NYSE:MAC) last issued its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.69). The company had revenue of $185.80 million for the quarter, compared to the consensus estimate of $194.58 million. The Macerich had a return on equity of 2.00% and a net margin of 6.34%. The Macerich’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 earnings per share. As a group, equities analysts predict that The Macerich Company will post 2.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Monday, November 9th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.29%. The Macerich’s dividend payout ratio (DPR) is presently 16.95%.
About The Macerich
Macerich is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.
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