Trading Report: Today, The Macerich Co. (MAC) Stake Decreased by Public Employees Retirement Association of Colorado

Today, The Macerich Co. (MAC) Stake Decreased by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its stake in The Macerich Co. (NYSE:MAC) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,002 shares of the real estate investment trust’s stock after selling 414 shares during the period. Public Employees Retirement Association of Colorado’s holdings in The Macerich were worth $2,265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC raised its position in The Macerich by 4.3% in the second quarter. Checchi Capital Advisers LLC now owns 1,973 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 82 shares in the last quarter. Forum Securities Ltd raised its position in The Macerich by 0.3% in the second quarter. Forum Securities Ltd now owns 25,559 shares of the real estate investment trust’s stock valued at $2,182,000 after buying an additional 82 shares in the last quarter. Presima Inc. raised its position in The Macerich by 1.4% in the second quarter. Presima Inc. now owns 7,000 shares of the real estate investment trust’s stock valued at $598,000 after buying an additional 100 shares in the last quarter. Norinchukin Bank The raised its position in The Macerich by 4.3% in the second quarter. Norinchukin Bank The now owns 2,768 shares of the real estate investment trust’s stock valued at $236,000 after buying an additional 113 shares in the last quarter. Finally, DNB Asset Management AS raised its position in The Macerich by 1.9% in the second quarter. DNB Asset Management AS now owns 10,595 shares of the real estate investment trust’s stock valued at $905,000 after buying an additional 200 shares in the last quarter. Institutional investors own 94.89% of the company’s stock.

The Macerich Co. (NYSE:MAC) traded down 0.19% during mid-day trading on Friday, reaching $69.02. 215,768 shares of the company’s stock were exchanged. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 11.57 and a beta of 0.84. The company has a 50-day moving average of $72.17 and a 200-day moving average of $79.54. The Macerich Co. has a 52-week low of $66.00 and a 52-week high of $94.51.

The Macerich (NYSE:MAC) last announced its earnings results on Thursday, October 27th. The real estate investment trust reported $1.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.04. The company earned $253.37 million during the quarter, compared to the consensus estimate of $257.87 million. The Macerich had a net margin of 82.09% and a return on equity of 18.73%. The firm’s revenue for the quarter was down 22.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 earnings per share. Equities research analysts anticipate that The Macerich Co. will post $4.10 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 11th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $2.84 annualized dividend and a dividend yield of 4.11%. This is an increase from The Macerich’s previous quarterly dividend of $0.68. The Macerich’s dividend payout ratio is currently 48.88%.

Several research analysts have recently weighed in on the stock. Credit Suisse Group AG restated a “sell” rating and set a $78.00 price objective on shares of The Macerich in a research note on Tuesday, August 2nd. TheStreet downgraded shares of The Macerich from a “buy” rating to a “hold” rating in a report on Tuesday, November 8th. Jefferies Group lifted their target price on shares of The Macerich from $86.00 to $88.00 and gave the stock a “hold” rating in a report on Wednesday, August 31st. Canaccord Genuity lifted their target price on shares of The Macerich from $80.00 to $84.00 and gave the stock a “hold” rating in a report on Tuesday, August 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of The Macerich from $83.00 to $87.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. The Macerich presently has a consensus rating of “Hold” and an average target price of $86.62.

In other news, EVP Randy L. Brant sold 24,250 shares of the stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $83.10, for a total value of $2,015,175.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert D. Perlmutter sold 1,500 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $81.52, for a total transaction of $122,280.00. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by insiders.

The Macerich Company Profile

The Macerich Company 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. It owns 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers.

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