Nuveen Asset Management Llc Decreased Stake in Macerich Co/The (NYSE:MAC) by $12.84 Million as Shares Rose

Nuveen Asset Management Llc decreased its stake in Macerich Co/The (NYSE:MAC) by 23.19% based on its latest Q4 2015 regulatory filing with the SEC. Nuveen Asset Management Llc sold 160,519 shares as the company’s stock rose 4.77% with the market. The institutional investor held 531,669 shares of the real estate investment trusts company at the end of Q4, valued at $42.90M, down from 692,188 at the end of the previous reported quarter. Nuveen Asset Management Llc who had been investing in Macerich Co/The since many months, could be less bullish the $11.68 billion market cap company. The stock decreased 1.28% or $0.96 during the last trading session, hitting $73.88. Macerich Co (NYSE:MAC) has declined 4.16% since July 9, 2015 and is downtrending. It has outperformed by 6.67% the S&P500.

Nuveen Asset Management Llc, which manages about $19.44B US Long portfolio, upped its stake in Edison International (NYSE:EIX) by 294,024 shares to 327,996 shares, valued at $19.42 million in Q4, according to the filing. It also increased its holding in American Electric Power Co Inc (NYSE:AEP) by 434,075 shares in the quarter, for total 444,075 shares, and risen its stake in General Electric Co (NYSE:GE).

Nuveen Asset Management Llc is a Illinois-based institutional investor with more than $116.00 billion AUM in October, 2014. This fund invests only a small percentage of its assets in equities and options. Nuveen Asset Management Llc is the 40th largest institutional investor in our database. Taken from Nuveen Asset Management latest Adv, the fund reported to have 167 full and part-time employees. Among which 148 performing investment advisory and research functions. The institutional investor had more than 24900 clients.

The institutional sentiment decreased to 0.74 in Q3 2015. Its down 0.29, from 1.03 in 2015Q2. The ratio dropped, as 46 funds sold all MAC shares owned while 136 reduced positions. 35 funds bought stakes while 100 increased positions. They now own 132.56 million shares or 14.73% less from 155.46 million shares in 2015Q2.

Third Avenue Management Llc holds 4.08% of its portfolio in MAC for 1.95 million shares. Security Capital Research & Management Inc owns 1.61 million shares or 4.06% of their US portfolio. Moreover, Land & Buildings Investment Management Llc has 3.36% invested in the company for 104,900 shares. The New York-based South Street Advisors Llc has invested 3.31% in the stock. Cornerstone Real Estate Advisers Llc, a Connecticut-based fund reported 63,947 shares.

Out of 17 analysts covering The Macerich Company (NYSE:MAC), 2 rate it “Buy”, 1 “Sell”, while 17 “Hold”. This means 10% are positive. $102 is the highest target while $73 is the lowest. The $83.12 average target is 14.24% above today’s ($73.88) stock price. The Macerich Company was the topic in 13 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Bank of America upgraded the stock on January 12 to “Buy” rating.

The Macerich Company is a self-managed and self-administered real estate investment trust . The company has a market cap of $11.68 billion. The Firm is engaged in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. It has 23.76 P/E ratio. 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.

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