Pacer Advisors Inc. boosted its holdings in shares of Macerich Company (The) (NYSE:MAC) by 7.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,774 shares of the real estate investment trust’s stock after purchasing an additional 203 shares during the quarter. Pacer Advisors Inc.’s holdings in Macerich Company (The) were worth $161,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MAC. First Trust Advisors LP boosted its position in Macerich Company (The) by 45.1% during the first quarter. First Trust Advisors LP now owns 182,260 shares of the real estate investment trust’s stock worth $11,738,000 after purchasing an additional 56,639 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Macerich Company (The) by 7.3% in the first quarter. American Century Companies Inc. now owns 7,138 shares of the real estate investment trust’s stock valued at $460,000 after acquiring an additional 485 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Macerich Company (The) by 91.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 10,315 shares of the real estate investment trust’s stock valued at $689,000 after acquiring an additional 4,931 shares in the last quarter. Comerica Bank lifted its position in shares of Macerich Company (The) by 3.5% in the first quarter. Comerica Bank now owns 36,427 shares of the real estate investment trust’s stock valued at $2,284,000 after acquiring an additional 1,226 shares in the last quarter. Finally, Pictet Asset Management Ltd. lifted its position in shares of Macerich Company (The) by 6.9% in the first quarter. Pictet Asset Management Ltd. now owns 71,704 shares of the real estate investment trust’s stock valued at $4,618,000 after acquiring an additional 4,600 shares in the last quarter. Institutional investors own 96.96% of the company’s stock.

Several research firms have recently weighed in on MAC. Citigroup Inc. decreased their target price on Macerich Company (The) from $66.00 to $61.00 and set a “neutral” rating on the stock in a research report on Monday, August 14th. BidaskClub upgraded Macerich Company (The) from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Macerich Company (The) from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. BMO Capital Markets began coverage on Macerich Company (The) in a research report on Monday, September 11th. They issued a “market perform” rating and a $55.00 target price on the stock. Finally, Boenning Scattergood restated a “hold” rating on shares of Macerich Company (The) in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $68.36.

In related news, CEO Arthur M. Coppola sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $58.13, for a total value of $5,813,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.75% of the stock is currently owned by corporate insiders.

Macerich Company (NYSE:MAC) opened at 55.63 on Monday. The stock has a market cap of $7.87 billion, a P/E ratio of 54.70 and a beta of 0.78. The company’s 50-day moving average price is $55.38 and its 200-day moving average price is $59.69. Macerich Company has a 12 month low of $52.12 and a 12 month high of $83.28.

Macerich Company (The) (NYSE:MAC) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. Macerich Company (The) had a return on equity of 3.38% and a net margin of 14.39%. The firm had revenue of $247.20 million for the quarter, compared to analyst estimates of $218.62 million. During the same quarter in the prior year, the company earned $1.02 EPS. Macerich Company (The)’s revenue was down 4.9% on a year-over-year basis. Equities analysts forecast that Macerich Company will post $1.06 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Friday, August 18th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend was Wednesday, August 16th. Macerich Company (The)’s payout ratio is currently 278.43%.

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Macerich Company (The) Company 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 Company (The) (NYSE:MAC)

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