Long Pond Capital LP reduced its holdings in Macerich Co (NYSE:MAC) by 14.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,782,192 shares of the real estate investment trust’s stock after selling 312,914 shares during the quarter. Macerich makes up 3.5% of Long Pond Capital LP’s portfolio, making the stock its 9th biggest holding. Long Pond Capital LP owned approximately 1.27% of Macerich worth $97,967,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MAC. Aperio Group LLC increased its stake in Macerich by 17.7% in the second quarter. Aperio Group LLC now owns 43,636 shares of the real estate investment trust’s stock valued at $2,534,000 after purchasing an additional 6,557 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Macerich by 13.9% in the second quarter. Daiwa Securities Group Inc. now owns 21,345 shares of the real estate investment trust’s stock valued at $1,239,000 after purchasing an additional 2,600 shares during the last quarter. First Manhattan Co. acquired a new position in Macerich in the second quarter valued at $522,000. Korea Investment CORP increased its stake in Macerich by 830.8% in the second quarter. Korea Investment CORP now owns 36,300 shares of the real estate investment trust’s stock valued at $2,108,000 after purchasing an additional 32,400 shares during the last quarter. Finally, Honeywell International Inc. increased its stake in Macerich by 40.6% in the second quarter. Honeywell International Inc. now owns 19,725 shares of the real estate investment trust’s stock valued at $1,145,000 after purchasing an additional 5,700 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Shares of Macerich Co (NYSE MAC) traded down $0.53 during trading hours on Monday, reaching $64.22. The company’s stock had a trading volume of 1,632,600 shares, compared to its average volume of 1,470,566. The firm has a market capitalization of $9,040.43, a price-to-earnings 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 Co has a 12 month low of $52.12 and a 12 month high of $73.34.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.86). The firm had revenue of $242.50 million for the quarter, compared to analyst estimates of $226.00 million. Macerich had a return on equity of 3.56% and a net margin of 14.92%. The business’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 earnings per share. research analysts predict that Macerich Co will post 3.95 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Thursday, November 9th. This is a positive change from Macerich’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a yield of 4.61%. Macerich’s dividend payout ratio is currently 281.91%.

Several research firms recently commented on MAC. Citigroup dropped their target price on Macerich from $66.00 to $61.00 and set a “neutral” rating for the company in a research note on Monday, August 14th. BidaskClub upgraded Macerich from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Macerich from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. KeyCorp reiterated a “buy” rating and issued a $75.00 target price on shares of Macerich in a research note on Thursday, September 28th. Finally, Jefferies Group reiterated a “hold” rating and issued a $57.00 target price on shares of Macerich in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. Macerich presently has an average rating of “Hold” and a consensus price target of $66.80.

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About Macerich

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 (NYSE:MAC)

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