Macerich Co (MAC) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. decreased its holdings in shares of Macerich Co (NYSE:MAC) by 9.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 23,273 shares of the real estate investment trust’s stock after selling 2,425 shares during the period. Hartford Investment Management Co.’s holdings in Macerich were worth $1,279,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. AEW Capital Management L P lifted its holdings in shares of Macerich 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 purchasing an additional 2,362,121 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Macerich by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 2,899,041 shares of the real estate investment trust’s stock worth $159,359,000 after purchasing an additional 143,975 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Macerich by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,997,237 shares of the real estate investment trust’s stock worth $115,963,000 after purchasing an additional 48,761 shares during the period. Third Point LLC acquired a new stake in shares of Macerich during the third quarter worth about $94,878,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Macerich by 39.4% during the third quarter. Canada Pension Plan Investment Board now owns 1,252,483 shares of the real estate investment trust’s stock worth $68,849,000 after purchasing an additional 353,900 shares during the period. Institutional investors and hedge funds own 97.79% of the company’s stock.

MAC has been the subject of a number of research reports. KeyCorp reaffirmed a “buy” rating and set a $75.00 target price on shares of Macerich in a report on Monday, August 28th. BidaskClub raised Macerich from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $66.00 target price on shares of Macerich in a report on Thursday, November 2nd. Boenning Scattergood set a $75.00 price target on Macerich and gave the company a “buy” rating in a report on Wednesday, November 1st. Finally, BMO Capital Markets set a $55.00 price target on Macerich and gave the company a “hold” rating in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $66.80.

Shares of Macerich Co (MAC) traded up $0.98 during trading hours on Tuesday, reaching $65.20. The company’s stock had a trading volume of 1,361,000 shares, compared to its average volume of 1,470,096. Macerich Co has a one year low of $52.12 and a one year high of $73.34. The firm has a market capitalization of $9,040.43, a P/E ratio of 16.14, a PEG ratio of 2.97 and a beta of 0.88. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.85 and a quick ratio of 0.85.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.86). Macerich had a net margin of 14.92% and a return on equity of 3.56%. The company had revenue of $242.50 million during the quarter, compared to analyst estimates of $226.00 million. During the same period in the previous year, the firm posted $1.04 earnings per share. The company’s revenue was down 4.3% compared to the same quarter last year. equities research analysts anticipate that Macerich Co will post 3.95 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were given a $0.74 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This is a boost from Macerich’s previous quarterly dividend of $0.71. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.54%. Macerich’s payout ratio is 281.91%.

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Macerich Profile

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 (NYSE:MAC)

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