State Board of Administration of Florida Retirement System lowered its stake in shares of Macerich Company (The) (NYSE:MAC) by 0.4% during the fourth quarter, Holdings Channel reports. The fund owned 222,841 shares of the real estate investment trust’s stock after selling 909 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Macerich Company (The) were worth $15,786,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. BlackRock Fund Advisors raised its position in Macerich Company (The) by 2.0% in the third quarter. BlackRock Fund Advisors now owns 4,907,196 shares of the real estate investment trust’s stock valued at $396,845,000 after buying an additional 97,998 shares during the last quarter. Bank of New York Mellon Corp raised its position in Macerich Company (The) by 7.0% in the third quarter. Bank of New York Mellon Corp now owns 3,388,511 shares of the real estate investment trust’s stock valued at $274,029,000 after buying an additional 220,620 shares during the last quarter. Morgan Stanley raised its position in Macerich Company (The) by 3.4% in the third quarter. Morgan Stanley now owns 3,314,431 shares of the real estate investment trust’s stock valued at $268,038,000 after buying an additional 109,652 shares during the last quarter. BlackRock Group LTD raised its position in Macerich Company (The) by 1.4% in the third quarter. BlackRock Group LTD now owns 1,901,593 shares of the real estate investment trust’s stock valued at $153,782,000 after buying an additional 26,463 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Macerich Company (The) by 5.6% in the second quarter. Legal & General Group Plc now owns 986,694 shares of the real estate investment trust’s stock valued at $84,231,000 after buying an additional 52,754 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

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

Macerich Company (NYSE:MAC) opened at 66.84 on Friday. Macerich Company has a one year low of $65.79 and a one year high of $94.51. The firm has a market cap of $9.62 billion, a price-to-earnings ratio of 18.99 and a beta of 0.79. The firm has a 50-day moving average of $69.33 and a 200-day moving average of $74.55.

Macerich Company (The) (NYSE:MAC) last released its quarterly earnings data on Monday, February 6th. The real estate investment trust reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.01. Macerich Company (The) had a net margin of 49.65% and a return on equity of 11.24%. During the same period last year, the firm posted $2.65 EPS. Analysts anticipate that Macerich Company will post $0.64 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 3rd. Shareholders of record on Tuesday, February 21st will be paid a $0.71 dividend. The ex-dividend date of this dividend is Thursday, February 16th. This represents a $2.84 annualized dividend and a yield of 4.25%. Macerich Company (The)’s dividend payout ratio is presently 83.04%.

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MAC has been the topic of several recent research reports. BTIG Research initiated coverage on shares of Macerich Company (The) in a report on Tuesday, January 3rd. They set a “buy” rating and a $82.00 target price on the stock. Jefferies Group LLC restated a “hold” rating and set a $74.00 target price on shares of Macerich Company (The) in a report on Tuesday, February 7th. Zacks Investment Research lowered shares of Macerich Company (The) from a “hold” rating to a “sell” rating in a report on Thursday, January 12th. Canaccord Genuity reduced their target price on shares of Macerich Company (The) from $84.00 to $77.00 and set a “hold” rating on the stock in a report on Monday, January 23rd. Finally, KeyCorp upgraded shares of Macerich Company (The) from a “sector weight” rating to an “overweight” rating in a report on Thursday, December 15th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $80.23.

In other Macerich Company (The) news, EVP Robert D. Perlmutter sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $70.79, for a total value of $106,185.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Hern Thomas E. O sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the transaction, the executive vice president now owns 55,077 shares in the company, valued at approximately $3,855,390. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by corporate insiders.

Macerich Company (The) Company Profile

The Macerich Company is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. It owns 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers.

5 Day Chart for NYSE:MAC

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