California State Teachers Retirement System Decreases Holdings in Macerich Company (The) (NYSE:MAC)

California State Teachers Retirement System lessened its stake in shares of Macerich Company (The) (NYSE:MAC) by 9.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 281,557 shares of the real estate investment trust’s stock after selling 28,059 shares during the quarter. California State Teachers Retirement System owned about 0.20% of Macerich Company (The) worth $16,348,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in MAC. Teachers Advisors LLC boosted its stake in Macerich Company (The) by 6.0% during the 1st quarter. Teachers Advisors LLC now owns 204,388 shares of the real estate investment trust’s stock valued at $13,163,000 after purchasing an additional 11,571 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Macerich Company (The) by 12.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,873 shares of the real estate investment trust’s stock worth $313,000 after acquiring an additional 524 shares during the period. Global X Management Co. LLC lifted its position in shares of Macerich Company (The) by 45.5% in the 1st quarter. Global X Management Co. LLC now owns 5,185 shares of the real estate investment trust’s stock worth $334,000 after acquiring an additional 1,621 shares during the period. Amalgamated Bank lifted its position in shares of Macerich Company (The) by 6.5% in the 1st quarter. Amalgamated Bank now owns 9,713 shares of the real estate investment trust’s stock worth $626,000 after acquiring an additional 595 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Macerich Company (The) in the 1st quarter worth approximately $1,207,000. Hedge funds and other institutional investors own 94.52% of the company’s stock.

Shares of Macerich Company (NYSE:MAC) traded down 0.86% on Friday, reaching $56.56. 2,912,115 shares of the company’s stock traded hands. The firm has a market cap of $8.00 billion, a P/E ratio of 55.61 and a beta of 0.80. Macerich Company has a one year low of $52.12 and a one year high of $74.58. The company’s 50-day moving average price is $55.68 and its 200 day moving average price is $57.95.

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 Zacks’ consensus estimate of $0.94 by $0.04. Macerich Company (The) had a net margin of 14.39% and a return on equity of 3.38%. The firm had revenue of $247.20 million during the quarter, compared to analyst estimates of $218.62 million. During the same quarter in the prior year, the business earned $1.02 earnings per share. Macerich Company (The)’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities analysts forecast that Macerich Company will post $1.07 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.96 annualized dividend and a yield of 5.23%. This is a positive change from Macerich Company (The)’s previous quarterly dividend of $0.71. Macerich Company (The)’s dividend payout ratio (DPR) is 278.43%.

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A number of equities analysts have recently issued reports on the company. BidaskClub raised Macerich Company (The) from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Barclays PLC dropped their target price on Macerich Company (The) to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, July 18th. Boenning Scattergood raised Macerich Company (The) from a “neutral” rating to an “outperform” rating in a report on Wednesday, August 23rd. J P Morgan Chase & Co upgraded Macerich Company (The) from a “neutral” rating to an “overweight” rating and set a $68.00 price objective on the stock in a research report on Tuesday, September 26th. Finally, KeyCorp reiterated a “buy” rating and issued a $75.00 price objective on shares of Macerich Company (The) in a research report on Thursday, September 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target 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.

Institutional Ownership by Quarter for Macerich Company (The) (NYSE:MAC)

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