Public Employees Retirement Association of Colorado Sells 4,963 Shares of Macerich Co (MAC)

Public Employees Retirement Association of Colorado cut its stake in shares of Macerich Co (NYSE:MAC) by 22.0% in the first quarter, HoldingsChannel.com reports. The fund owned 17,550 shares of the real estate investment trust’s stock after selling 4,963 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Macerich were worth $761,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Liberty Wealth Management LLC bought a new position in shares of Macerich during the 4th quarter valued at approximately $39,000. CSat Investment Advisory L.P. grew its stake in shares of Macerich by 63.1% during the 4th quarter. CSat Investment Advisory L.P. now owns 1,024 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 396 shares during the period. Meeder Asset Management Inc. grew its stake in shares of Macerich by 1,480.2% during the 4th quarter. Meeder Asset Management Inc. now owns 1,754 shares of the real estate investment trust’s stock valued at $76,000 after acquiring an additional 1,643 shares during the period. Proffitt & Goodson Inc. purchased a new position in Macerich in the 1st quarter worth approximately $93,000. Finally, Ffcm LLC lifted its holdings in Macerich by 174.7% in the 4th quarter. Ffcm LLC now owns 2,266 shares of the real estate investment trust’s stock worth $98,000 after purchasing an additional 1,441 shares in the last quarter. Institutional investors own 98.01% of the company’s stock.

A number of research firms recently commented on MAC. Royal Bank of Canada reissued a “hold” rating and issued a $46.00 price target on shares of Macerich in a report on Tuesday, February 26th. Jefferies Financial Group reissued a “hold” rating and issued a $46.00 price target on shares of Macerich in a report on Wednesday, February 13th. Deutsche Bank lowered their price target on Macerich from $51.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, February 12th. Wells Fargo & Co cut Macerich from an “outperform” rating to a “market perform” rating and set a $43.00 price target on the stock. in a report on Friday, February 8th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $56.00 price target on shares of Macerich in a report on Thursday, February 7th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Macerich currently has a consensus rating of “Hold” and a consensus target price of $54.00.



In other news, SVP Kenneth Volk sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $42.19, for a total transaction of $210,950.00. Following the sale, the senior vice president now directly owns 12,399 shares of the company’s stock, valued at approximately $523,113.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hern Thomas E. O acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were purchased at an average cost of $40.99 per share, for a total transaction of $409,900.00. The disclosure for this purchase can be found here. 1.73% of the stock is owned by corporate insiders.

NYSE MAC opened at $42.07 on Wednesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.90 and a current ratio of 0.90. Macerich Co has a 12 month low of $39.71 and a 12 month high of $60.95. The company has a market capitalization of $5.87 billion, a P/E ratio of 10.93, a price-to-earnings-growth ratio of 6.45 and a beta of 0.83.

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

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 8th will be issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, May 7th. This represents a $3.00 annualized dividend and a dividend yield of 7.13%. Macerich’s dividend payout ratio (DPR) is 77.92%.

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Macerich Company 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.

Further Reading: Why is the price-sales ratio important?

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Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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