CIBC Asset Management Inc decreased its position in shares of Macerich Co (NYSE:MAC) by 9.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,930 shares of the real estate investment trust’s stock after selling 1,265 shares during the quarter. CIBC Asset Management Inc’s holdings in Macerich were worth $784,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Macerich by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 2,899,041 shares of the real estate investment trust’s stock valued at $159,359,000 after purchasing an additional 143,975 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Macerich by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,047,155 shares of the real estate investment trust’s stock valued at $112,533,000 after purchasing an additional 49,918 shares in the last quarter. Third Point LLC bought a new stake in shares of Macerich during the third quarter valued at about $94,878,000. Canada Pension Plan Investment Board raised its stake in shares of Macerich by 39.4% during the third quarter. Canada Pension Plan Investment Board now owns 1,252,483 shares of the real estate investment trust’s stock valued at $68,849,000 after purchasing an additional 353,900 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Macerich by 6.3% during the third quarter. Legal & General Group Plc now owns 1,224,305 shares of the real estate investment trust’s stock valued at $67,301,000 after purchasing an additional 72,046 shares in the last quarter. 98.27% of the stock is owned by institutional investors.

Shares of Macerich Co (MAC) opened at $60.80 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.88 and a quick ratio of 0.85. Macerich Co has a 1 year low of $52.12 and a 1 year high of $69.73. The company has a market cap of $8,600.00, a PE ratio of 59.61, a price-to-earnings-growth ratio of 2.88 and a beta of 0.83.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $1.03 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.11). Macerich had a return on equity of 3.91% and a net margin of 14.71%. The business had revenue of $245.30 million during the quarter, compared to the consensus estimate of $237.90 million. During the same quarter last year, the firm posted $1.17 earnings per share. Macerich’s revenue was down 6.2% compared to the same quarter last year. equities analysts anticipate that Macerich Co will post 3.99 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Wednesday, February 21st will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 4.87%. The ex-dividend date is Tuesday, February 20th. Macerich’s dividend payout ratio (DPR) is presently 290.20%.

A number of equities research analysts recently weighed in on MAC shares. Boenning Scattergood restated a “buy” rating and set a $75.00 price objective on shares of Macerich in a research note on Wednesday, February 7th. Royal Bank of Canada restated a “buy” rating and set a $66.00 price objective on shares of Macerich in a research note on Thursday, November 2nd. Barclays cut their price objective on shares of Macerich from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 30th. Morgan Stanley restated a “hold” rating on shares of Macerich in a research note on Tuesday, February 6th. Finally, BMO Capital Markets set a $62.00 price objective on shares of Macerich and gave the company a “hold” rating in a research note on Monday, February 5th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $67.09.

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

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