Macerich Company (The) (NYSE:MAC) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 13,427 call options on the stock. This represents an increase of 957% compared to the average daily volume of 1,270 call options.
In related news, CEO Arthur M. Coppola sold 100,000 shares of the company’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $58.13, for a total transaction of $5,813,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.75% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. increased its position in Macerich Company (The) by 3.1% in the first quarter. Pacer Advisors Inc. now owns 2,571 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 77 shares during the period. Advisory Services Network LLC bought a new position in Macerich Company (The) during the first quarter worth approximately $167,000. BB&T Securities LLC bought a new position in Macerich Company (The) during the first quarter worth approximately $234,000. Sawtooth Solutions LLC bought a new position in Macerich Company (The) during the first quarter worth approximately $244,000. Finally, Fox Run Management L.L.C. bought a new position in Macerich Company (The) during the second quarter worth approximately $273,000. 94.62% of the stock is owned by institutional investors and hedge funds.
MAC has been the subject of several research analyst reports. BTIG Research reiterated a “buy” rating and set a $82.00 target price on shares of Macerich Company (The) in a research note on Monday, April 3rd. Barclays PLC cut their target price on shares of Macerich Company (The) from $66.00 to $63.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 19th. BidaskClub upgraded shares of Macerich Company (The) from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Deutsche Bank AG cut their target price on shares of Macerich Company (The) to $65.00 and set a “hold” rating for the company in a research note on Tuesday, March 21st. Finally, Canaccord Genuity cut their target price on shares of Macerich Company (The) from $77.00 to $71.00 and set a “hold” rating for the company in a research note on Monday, March 27th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $72.20.
Shares of Macerich Company (NYSE MAC) opened at 59.05 on Tuesday. The firm has a market cap of $8.37 billion, a PE ratio of 51.80 and a beta of 0.77. The company’s 50 day moving average is $58.25 and its 200-day moving average is $64.52. Macerich Company has a 12 month low of $56.06 and a 12 month high of $94.51.
Macerich Company (The) (NYSE:MAC) last posted its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.03. The business had revenue of $219.90 million during the quarter, compared to the consensus estimate of $222.65 million. Macerich Company (The) had a return on equity of 3.72% and a net margin of 16.01%. Macerich Company (The)’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. Equities research analysts predict that Macerich Company will post $0.98 EPS for the current year.
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Macerich Company (The) Company 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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