Oakwood Capital Managementca Lowers stake in Macerich Co (MAC)

Macerich Co (MAC) : Oakwood Capital Managementca reduced its stake in Macerich Co by 0.74% during the most recent quarter end. The investment management company now holds a total of 263,302 shares of Macerich Co which is valued at $23,175,842 after selling 1,955 shares in Macerich Co , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Macerich Co makes up approximately 5.84% of Oakwood Capital Managementca’s portfolio.

Other Hedge Funds, Including , Calamos Advisors boosted its stake in MAC in the latest quarter, The investment management firm added 6 additional shares and now holds a total of 15,248 shares of Macerich Co which is valued at $1,342,129. Macerich Co makes up approx 0.01% of Calamos Advisors’s portfolio.Daiwa Securities Group reduced its stake in MAC by selling 340,517 shares or 97.52% in the most recent quarter. The Hedge Fund company now holds 8,645 shares of MAC which is valued at $760,933.Oakbrook Investments boosted its stake in MAC in the latest quarter, The investment management firm added 800 additional shares and now holds a total of 8,251 shares of Macerich Co which is valued at $734,009. Macerich Co makes up approx 0.04% of Oakbrook Investments’s portfolio.Gateway Investment Advisers reduced its stake in MAC by selling 144 shares or 1.31% in the most recent quarter. The Hedge Fund company now holds 10,845 shares of MAC which is valued at $964,988. Macerich Co makes up approx 0.01% of Gateway Investment Advisers’s portfolio.Creative Planning reduced its stake in MAC by selling 106 shares or 18.15% in the most recent quarter. The Hedge Fund company now holds 478 shares of MAC which is valued at $42,532.

Macerich Co opened for trading at $88.94 and hit $90.26 on the upside on Friday, eventually ending the session at $89.24, with a gain of 0.13% or 0.12 points. The heightened volatility saw the trading volume jump to 15,04,327 shares. Company has a market cap of $13,251 M.

On the company’s financial health, Macerich Co reported $1.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.98. The company had revenue of $259.90 million for the quarter, compared to analysts expectations of $248.81 million. The company’s revenue was down -19.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.90 EPS.

Investors should note that on Jul 22, 2016, Macerich Co announced a cash dividend of $0.6800. The company’s management has announced Aug 17, 2016 as the ex-dividend date and fixed the record date on Aug 19, 2016. The payable date has been fixed on Sep 8, 2016.

Many Wall Street Analysts have commented on Macerich Co. Company shares were Upgraded by RBC Capital Mkts on May 6, 2016 to ” Outperform”, Firm has raised the Price Target to $ 87 from a previous price target of $82 .

The Macerich Company is a self-managed and self-administered real estate investment trust (REIT). The Company is engaged in the acquisition ownership development redevelopment management and leasing of regional and community/power shopping centers located throughout the United States. The Company through its partnership and ownership interests in the Macerich Partnership L.P. has an ownership interest in 51 regional shopping centers and eight community/power shopping centers. These 59 regional and community/power shopping centers (which include any related office space) consist of approximately 55 million square feet of gross leasable area (GLA). The Centers primarily included 194 Anchors totaling approximately 28 million square feet of GLA and approximately 6000 Mall Stores and Freestanding Stores totaling approximately 26 million square feet of GLA.

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