Municipal Employees Retirement System of Michigan Has $838,000 Position in Macerich Company (The) (MAC)

Municipal Employees Retirement System of Michigan continued to hold its stake in shares of Macerich Company (The) (NYSE:MAC) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 13,000 shares of the real estate investment trust’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Macerich Company (The) were worth $838,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its position 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 in the last quarter. Advisory Services Network LLC bought a new position in shares of Macerich Company (The) during the first quarter worth $167,000. BB&T Securities LLC bought a new position in shares of Macerich Company (The) during the first quarter worth $234,000. Sawtooth Solutions LLC bought a new position in shares of Macerich Company (The) during the first quarter worth $244,000. Finally, Pacad Investment Ltd. raised its position in shares of Macerich Company (The) by 1,700.0% in the fourth quarter. Pacad Investment Ltd. now owns 3,600 shares of the real estate investment trust’s stock worth $255,000 after buying an additional 3,400 shares in the last quarter. 98.76% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Macerich Company (The) (NYSE:MAC)

Macerich Company (NYSE MAC) traded down 1.65% during midday trading on Friday, hitting $57.77. 2,261,852 shares of the stock traded hands. The firm has a market cap of $8.19 billion, a PE ratio of 50.68 and a beta of 0.78. Macerich Company has a 52-week low of $56.06 and a 52-week high of $94.51. The stock has a 50-day moving average of $59.26 and a 200 day moving average of $65.25.

Macerich Company (The) (NYSE:MAC) last announced its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The firm had revenue of $219.90 million for the quarter, compared to analysts’ expectations of $222.65 million. Macerich Company (The) had a net margin of 16.01% and a return on equity of 3.72%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS. Equities analysts forecast that Macerich Company will post $0.84 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Friday, May 5th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $2.84 annualized dividend and a dividend yield of 4.92%. Macerich Company (The)’s payout ratio is 249.12%.

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MAC has been the subject of a number of research reports. Canaccord Genuity dropped their target price on shares of Macerich Company (The) from $77.00 to $71.00 and set a “hold” rating for the company in a research report on Monday, March 27th. Zacks Investment Research upgraded shares of Macerich Company (The) from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) lowered shares of Macerich Company (The) from a “neutral” rating to a “sell” rating and set a $64.00 target price for the company. in a research report on Friday, March 17th. Citigroup Inc. restated a “neutral” rating on shares of Macerich Company (The) in a research report on Thursday, May 11th. Finally, Barclays PLC dropped their target price on shares of Macerich Company (The) from $66.00 to $63.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 19th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. Macerich Company (The) has an average rating of “Hold” and an average target price of $73.71.

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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