Macerich Co (MAC) Shares Sold by Profund Advisors LLC

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Profund Advisors LLC reduced its stake in shares of Macerich Co (NYSE:MAC) by 17.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,358 shares of the real estate investment trust’s stock after selling 947 shares during the period. Profund Advisors LLC’s holdings in Macerich were worth $244,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MAC. Nomura Asset Management Co. Ltd. boosted its holdings in Macerich by 20.4% in the first quarter. Nomura Asset Management Co. Ltd. now owns 98,145 shares of the real estate investment trust’s stock worth $5,498,000 after purchasing an additional 16,639 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Macerich by 1.8% in the first quarter. Principal Financial Group Inc. now owns 165,478 shares of the real estate investment trust’s stock worth $9,270,000 after purchasing an additional 2,959 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in Macerich by 192.5% in the first quarter. State of Tennessee Treasury Department now owns 82,032 shares of the real estate investment trust’s stock worth $4,596,000 after purchasing an additional 53,990 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in Macerich by 11.2% in the first quarter. OppenheimerFunds Inc. now owns 27,980 shares of the real estate investment trust’s stock worth $1,567,000 after purchasing an additional 2,828 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Macerich by 2.5% in the first quarter. Hsbc Holdings PLC now owns 521,511 shares of the real estate investment trust’s stock worth $29,215,000 after purchasing an additional 12,554 shares in the last quarter. Institutional investors and hedge funds own 95.09% of the company’s stock.

MAC stock opened at $57.75 on Monday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.98 and a quick ratio of 0.98. Macerich Co has a 52-week low of $52.12 and a 52-week high of $69.73. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 2.17 and a beta of 0.86.

Macerich (NYSE:MAC) last released its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($1.05). Macerich had a net margin of 4.40% and a return on equity of 1.48%. The firm had revenue of $212.38 million for the quarter, compared to the consensus estimate of $216.47 million. During the same quarter last year, the company earned $0.87 earnings per share. The firm’s revenue was down 3.4% on a year-over-year basis. equities analysts anticipate that Macerich Co will post 3.96 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Tuesday, May 8th were issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend was Monday, May 7th. Macerich’s dividend payout ratio (DPR) is 75.32%.

MAC has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Macerich from a “sell” rating to a “hold” rating in a report on Tuesday, March 20th. Deutsche Bank upped their price objective on shares of Macerich from $62.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday, March 28th. JPMorgan Chase & Co. cut shares of Macerich from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $70.00 to $65.00 in a report on Tuesday, March 27th. BMO Capital Markets upgraded shares of Macerich from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $62.00 to $66.00 in a report on Friday, April 20th. They noted that the move was a valuation call. Finally, Mizuho upgraded shares of Macerich from a “neutral” rating to a “buy” rating in a report on Friday, April 20th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $64.47.

About Macerich

Macerich, an S&P 500 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. Macerich currently owns 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.

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Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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