Sumitomo Mitsui Asset Management Company LTD cut its holdings in Macerich Company (The) (NYSE:MAC) by 93.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,896 shares of the real estate investment trust’s stock after selling 158,908 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Macerich Company (The) were worth $653,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MAC. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Macerich Company (The) by 33.7% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 35,862 shares of the real estate investment trust’s stock valued at $2,082,000 after purchasing an additional 9,044 shares in the last quarter. Apollo Management Holdings L.P. purchased a new position in Macerich Company (The) in the 2nd quarter valued at about $3,039,000. Kempen Capital Management N.V. increased its stake in shares of Macerich Company (The) by 45.2% during the 2nd quarter. Kempen Capital Management N.V. now owns 83,913 shares of the real estate investment trust’s stock valued at $4,871,000 after acquiring an additional 26,139 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Macerich Company (The) by 23.8% during the 2nd quarter. Toronto Dominion Bank now owns 40,383 shares of the real estate investment trust’s stock valued at $2,344,000 after acquiring an additional 7,751 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Macerich Company (The) by 10.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,017,873 shares of the real estate investment trust’s stock valued at $59,098,000 after acquiring an additional 98,499 shares during the last quarter. Institutional investors and hedge funds own 91.33% of the company’s stock.

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Macerich Company (MAC) opened at $58.76 on Wednesday. The firm has a market capitalization of $7,628.48, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 2.56 and a beta of 0.80. Macerich Company has a fifty-two week low of $52.12 and a fifty-two week high of $73.34. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.85 and a quick ratio of 0.88.

Macerich Company (The) (NYSE:MAC) last released its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.86). The company had revenue of $242.50 million during the quarter, compared to analysts’ expectations of $226.00 million. Macerich Company (The) had a return on equity of 3.56% and a net margin of 14.92%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.04 EPS. equities analysts forecast that Macerich Company will post 3.96 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date is Thursday, November 9th. This is a boost from Macerich Company (The)’s previous quarterly dividend of $0.71. Macerich Company (The)’s dividend payout ratio is currently 270.48%.

A number of research analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and set a $66.00 price objective on shares of Macerich Company (The) in a research note on Thursday, November 2nd. Boenning Scattergood set a $75.00 price objective on shares of Macerich Company (The) and gave the company a “buy” rating in a research note on Wednesday, November 1st. BMO Capital Markets set a $55.00 price objective on shares of Macerich Company (The) and gave the company a “hold” rating in a research note on Monday, October 30th. KeyCorp reaffirmed a “buy” rating and set a $75.00 price objective on shares of Macerich Company (The) in a research note on Thursday, September 28th. Finally, J P Morgan Chase & Co raised shares of Macerich Company (The) from a “neutral” rating to an “overweight” rating and set a $68.00 price objective for the company in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. Macerich Company (The) currently has a consensus rating of “Hold” and a consensus price target of $67.00.

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.

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

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