Dai Ichi Life Insurance Company Ltd maintained its position in shares of Macerich Company (The) (NYSE:MAC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,316 shares of the real estate investment trust’s stock at the close of the 2nd quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Macerich Company (The) were worth $599,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Advantus Capital Management Inc boosted its position in Macerich Company (The) by 0.4% in the 1st quarter. Advantus Capital Management Inc now owns 12,020 shares of the real estate investment trust’s stock worth $774,000 after purchasing an additional 47 shares in the last quarter. Pacer Advisors Inc. boosted its position in Macerich Company (The) by 3.1% in the 1st quarter. Pacer Advisors Inc. now owns 2,571 shares of the real estate investment trust’s stock worth $166,000 after purchasing an additional 77 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Macerich Company (The) by 0.9% in 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 purchasing an additional 177 shares in the last quarter. Mason Street Advisors LLC boosted its position in Macerich Company (The) by 1.2% in the 1st quarter. Mason Street Advisors LLC now owns 16,705 shares of the real estate investment trust’s stock worth $1,076,000 after purchasing an additional 190 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Macerich Company (The) by 7.3% in the 1st quarter. American Century Companies Inc. now owns 7,138 shares of the real estate investment trust’s stock worth $460,000 after purchasing an additional 485 shares in the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

Macerich Company (NYSE MAC) opened at 55.63 on Friday. The company has a 50-day moving average price of $55.38 and a 200 day moving average price of $59.69. Macerich Company has a 1-year low of $52.12 and a 1-year high of $83.28. The firm has a market capitalization of $7.87 billion, a P/E ratio of 54.70 and a beta of 0.78.

Macerich Company (The) (NYSE:MAC) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.04. The company 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%. Macerich Company (The)’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 earnings per share. Analysts expect that Macerich Company will post $1.06 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Friday, August 18th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.84 dividend on an annualized basis and a yield of 5.11%. Macerich Company (The)’s payout ratio is 278.43%.

In other Macerich Company (The) news, CEO Arthur M. Coppola sold 100,000 shares of the business’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $58.13, for a total transaction of $5,813,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.75% of the stock is currently owned by insiders.

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MAC has been the topic of several recent research reports. KeyCorp restated a “buy” rating and issued a $75.00 price objective on shares of Macerich Company (The) in a research report on Monday, August 28th. Zacks Investment Research lowered Macerich Company (The) from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Citigroup Inc. decreased their target price on Macerich Company (The) from $66.00 to $61.00 and set a “neutral” rating on the stock in a research report on Monday, August 14th. Jefferies Group LLC reiterated a “hold” rating and set a $57.00 target price on shares of Macerich Company (The) in a research report on Monday, July 17th. Finally, BidaskClub lowered Macerich Company (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $68.36.

About Macerich Company (The)

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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