California State Teachers Retirement System Lowers Stake in Macerich Co (MAC)

California State Teachers Retirement System cut its holdings in shares of Macerich Co (NYSE:MAC) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 260,488 shares of the real estate investment trust’s stock after selling 21,069 shares during the period. California State Teachers Retirement System owned 0.19% of Macerich worth $14,319,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sentry Investment Management LLC raised its stake in shares of Macerich by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 9,690 shares of the real estate investment trust’s stock worth $563,000 after buying an additional 102 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Macerich by 0.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,917 shares of the real estate investment trust’s stock worth $1,098,000 after buying an additional 177 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Macerich by 7.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,774 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 203 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of Macerich by 11.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,111 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 435 shares during the last quarter. Finally, Ffcm LLC raised its stake in shares of Macerich by 6.4% during the 2nd quarter. Ffcm LLC now owns 8,490 shares of the real estate investment trust’s stock worth $493,000 after buying an additional 510 shares during the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.

Shares of Macerich Co (MAC) opened at $65.20 on Friday. Macerich Co has a one year low of $52.12 and a one year high of $73.34. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $9,100.97, a PE ratio of 62.10, a PEG ratio of 3.12 and a beta of 0.88.

Macerich (NYSE:MAC) last issued its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.86). The company had revenue of $242.50 million for the quarter, compared to analyst estimates of $226.00 million. Macerich had a net margin of 14.92% and a return on equity of 3.56%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.04 EPS. equities research analysts anticipate that Macerich Co will post 3.94 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 4.54%. 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. Macerich’s dividend payout ratio (DPR) is presently 281.91%.

Several research analysts recently weighed in on the stock. Evercore ISI downgraded shares of Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 target price for the company. in a research note on Monday, December 11th. Wells Fargo & Company upgraded Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 target price for the company in a report on Tuesday. Mizuho reiterated a “hold” rating and set a $60.00 target price on shares of Macerich in a report on Friday, November 10th. BMO Capital Markets set a $55.00 price target on Macerich and gave the stock a “hold” rating in a report on Monday, October 30th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $75.00 target price on shares of Macerich in a research report on Thursday, September 28th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. Macerich currently has an average rating of “Hold” and a consensus target price of $66.85.

TRADEMARK VIOLATION WARNING: “California State Teachers Retirement System Lowers Stake in Macerich Co (MAC)” was first published by Community Financial News and is owned by of Community Financial News. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and international trademark and copyright legislation. The legal version of this article can be read at https://www.com-unik.info/2017/12/23/california-state-teachers-retirement-system-lowers-stake-in-macerich-co-mac.html.

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.

Want to see what other hedge funds are holding MAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macerich Co (NYSE:MAC).

Institutional Ownership by Quarter for Macerich (NYSE:MAC)

Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit