The Macerich Company (NYSE:MAC) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board cut its position in The Macerich Company (NYSE:MAC) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 458,271 shares of the real estate investment trust’s stock after selling 16,400 shares during the quarter. Public Sector Pension Investment Board owned 0.20% of Macerich worth $8,359,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Townsquare Capital LLC boosted its holdings in Macerich by 7.2% during the 3rd quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock valued at $245,000 after acquiring an additional 902 shares during the period. FMR LLC lifted its position in shares of Macerich by 12,475.9% during the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock worth $214,738,000 after purchasing an additional 11,679,276 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Macerich by 1.1% in the third quarter. Fisher Asset Management LLC now owns 2,995,741 shares of the real estate investment trust’s stock valued at $54,642,000 after purchasing an additional 31,586 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Macerich by 6.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 72,080 shares of the real estate investment trust’s stock worth $1,315,000 after buying an additional 4,676 shares in the last quarter. Finally, Algert Global LLC boosted its position in Macerich by 5.5% in the 3rd quarter. Algert Global LLC now owns 167,621 shares of the real estate investment trust’s stock valued at $3,057,000 after buying an additional 8,780 shares during the period. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Analyst Upgrades and Downgrades

MAC has been the subject of a number of analyst reports. Evercore ISI boosted their price objective on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Compass Point upped their price objective on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Bank of America raised their target price on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. StockNews.com downgraded Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group upped their price objective on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research note on Thursday, September 19th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $16.40.

Macerich Price Performance

Shares of NYSE MAC opened at $21.21 on Friday. The stock has a fifty day moving average price of $18.71 and a 200 day moving average price of $16.52. The Macerich Company has a 1-year low of $11.30 and a 1-year high of $21.71. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $4.78 billion, a PE ratio of 54.39, a P/E/G ratio of 0.72 and a beta of 2.50.

Macerich (NYSE:MAC) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The firm had revenue of $220.20 million during the quarter, compared to analyst estimates of $208.54 million. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue was up .9% on a year-over-year basis. Sell-side analysts forecast that The Macerich Company will post 1.59 EPS for the current year.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, November 12th. Macerich’s payout ratio is 174.36%.

Macerich Company Profile

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.