ING Groep NV decreased its position in Macerich Company (The) (NYSE:MAC) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 6,105 shares of the real estate investment trust’s stock after selling 70 shares during the period. ING Groep NV’s holdings in Macerich Company (The) were worth $354,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MAC. Pacer Advisors Inc. raised its stake in shares of Macerich Company (The) by 3.1% in the first quarter. Pacer Advisors Inc. now owns 2,571 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 77 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Macerich Company (The) during the first quarter worth about $167,000. BB&T Securities LLC acquired a new stake in shares of Macerich Company (The) during the first quarter worth about $234,000. Sawtooth Solutions LLC acquired a new stake in shares of Macerich Company (The) during the first quarter worth about $244,000. Finally, Parametrica Management Ltd acquired a new stake in shares of Macerich Company (The) during the second quarter worth about $222,000. Institutional investors own 95.43% of the company’s stock.

Shares of Macerich Company (MAC) traded up 0.17% during trading on Wednesday, hitting $59.70. The stock had a trading volume of 310,722 shares. Macerich Company has a one year low of $54.98 and a one year high of $87.19. The company has a market cap of $8.46 billion, a P/E ratio of 52.37 and a beta of 0.77. The stock’s 50-day moving average price is $58.13 and its 200-day moving average price is $62.48.

Macerich Company (The) (NYSE:MAC) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. The business had revenue of $247.20 million for the quarter, compared to the consensus estimate of $218.62 million. Macerich Company (The) had a return on equity of 3.38% and a net margin of 14.39%. The company’s revenue was down 4.9% on a year-over-year basis. During the same period last year, the business posted $1.02 EPS. On average, equities research analysts forecast that Macerich Company will post $1.03 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Friday, August 18th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.84 annualized dividend and a dividend yield of 4.77%. Macerich Company (The)’s payout ratio is currently 278.43%.

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A number of brokerages have issued reports on MAC. BidaskClub upgraded shares of Macerich Company (The) from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Macerich Company (The) from a “sell” rating to a “hold” rating in a research note on Tuesday. Boenning Scattergood reiterated a “hold” rating on shares of Macerich Company (The) in a research note on Friday, August 4th. Barclays PLC cut their price target on shares of Macerich Company (The) to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $57.00 price target on shares of Macerich Company (The) in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $70.46.

In related news, CEO Arthur M. Coppola sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $58.13, for a total transaction of $5,813,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.75% of the company’s stock.

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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