Public Employees Retirement Association of Colorado Sells 248 Shares of Macerich Co (NYSE:MAC)
Public Employees Retirement Association of Colorado decreased its position in Macerich Co (NYSE:MAC) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,896 shares of the real estate investment trust’s stock after selling 248 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Macerich were worth $1,445,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in MAC. Pacer Advisors Inc. raised its position in shares of Macerich 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 purchased a new position in shares of Macerich during the first quarter worth $167,000. Parametrica Management Ltd purchased a new position in shares of Macerich during the second quarter worth $222,000. BB&T Securities LLC purchased a new position in shares of Macerich during the first quarter worth $234,000. Finally, Sawtooth Solutions LLC purchased a new position in shares of Macerich during the first quarter worth $244,000. Institutional investors own 95.43% of the company’s stock.
Shares of Macerich Co (NYSE:MAC) opened at 56.72 on Friday. Macerich Co has a 12-month low of $54.98 and a 12-month high of $84.79. The company’s 50 day moving average price is $58.35 and its 200 day moving average price is $62.09. The firm has a market cap of $8.02 billion, a P/E ratio of 55.77 and a beta of 0.77.
Macerich (NYSE:MAC) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. Macerich had a net margin of 11.74% and a return on equity of 2.71%. The company had revenue of $247.20 million during the quarter, compared to analyst estimates of $218.62 million. During the same period in the previous year, the business earned $1.02 earnings per share. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. Equities research analysts forecast that Macerich Co will post $1.03 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Friday, August 18th will be given a dividend of $0.71 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.84 annualized dividend and a yield of 5.01%. Macerich’s payout ratio is 278.43%.
A number of brokerages have recently weighed in on MAC. Barclays PLC lowered their target price on Macerich from $66.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 19th. BidaskClub upgraded Macerich from a “hold” rating to a “buy” rating in a research note on Wednesday. ValuEngine lowered Macerich from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Boenning Scattergood reissued a “hold” rating on shares of Macerich in a research report on Friday, August 4th. Finally, Mizuho downgraded Macerich from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $84.00 to $63.00 in a research report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $70.46.
In other Macerich news, CEO Arthur M. Coppola sold 100,000 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $58.13, for a total transaction of $5,813,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.75% of the company’s stock.
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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