Macerich Co (MAC) Holdings Raised by California Public Employees Retirement System

California Public Employees Retirement System raised its stake in shares of Macerich Co (NYSE:MAC) by 0.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 320,875 shares of the real estate investment trust’s stock after acquiring an additional 2,527 shares during the period. California Public Employees Retirement System’s holdings in Macerich were worth $13,910,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MAC. Cohen & Steers Inc. increased its position in shares of Macerich by 1,008.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,907,664 shares of the real estate investment trust’s stock valued at $125,844,000 after acquiring an additional 2,645,377 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Macerich by 9,289.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,893,198 shares of the real estate investment trust’s stock valued at $81,938,000 after purchasing an additional 1,873,034 shares in the last quarter. Norges Bank acquired a new position in shares of Macerich in the fourth quarter valued at approximately $63,471,000. Lasalle Investment Management Securities LLC acquired a new position in shares of Macerich in the fourth quarter valued at approximately $48,232,000. Finally, Presima Inc. grew its holdings in shares of Macerich by 2,819.0% in the fourth quarter. Presima Inc. now owns 998,300 shares of the real estate investment trust’s stock valued at $43,206,000 after purchasing an additional 964,100 shares in the last quarter. Institutional investors and hedge funds own 98.01% of the company’s stock.

NYSE MAC opened at $41.54 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.66. Macerich Co has a 52 week low of $39.71 and a 52 week high of $60.95. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 6.48 and a beta of 0.83.

Macerich (NYSE:MAC) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.76). Macerich had a return on equity of 3.75% and a net margin of 10.67%. The firm had revenue of $216.34 million for the quarter, compared to analyst estimates of $206.88 million. During the same quarter last year, the firm earned $0.82 EPS. The company’s revenue was down 4.4% on a year-over-year basis. As a group, research analysts expect that Macerich Co will post 3.56 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 8th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 7.22%. The ex-dividend date of this dividend is Tuesday, May 7th. Macerich’s dividend payout ratio (DPR) is presently 77.92%.

In other news, CEO Hern Thomas E. O purchased 10,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was bought at an average price of $40.99 per share, for a total transaction of $409,900.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Edward C. Coppola purchased 5,000 shares of the stock in a transaction on Friday, May 10th. The shares were purchased at an average price of $40.50 per share, with a total value of $202,500.00. The disclosure for this purchase can be found here. Insiders own 1.73% of the company’s stock.

MAC has been the subject of a number of research reports. Deutsche Bank dropped their price objective on shares of Macerich from $51.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, February 12th. Royal Bank of Canada restated a “hold” rating and issued a $46.00 price objective on shares of Macerich in a report on Tuesday, February 26th. ValuEngine cut shares of Macerich from a “sell” rating to a “strong sell” rating in a report on Thursday, January 24th. Wells Fargo & Co cut shares of Macerich from an “outperform” rating to a “market perform” rating and set a $43.00 price objective for the company. in a report on Friday, February 8th. Finally, BMO Capital Markets restated a “buy” rating and issued a $56.00 price objective on shares of Macerich in a report on Thursday, February 7th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. Macerich currently has an average rating of “Hold” and a consensus target price of $54.00.

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Macerich Profile

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 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.

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Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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