Macerich Target of Unusually High Options Trading (MAC)
Macerich Co (NYSE:MAC) was the target of some unusual options trading on Monday. Investors bought 10,355 call options on the stock. This is an increase of approximately 6,803% compared to the average volume of 150 call options.
MAC opened at $55.43 on Wednesday. Macerich has a 12-month low of $52.45 and a 12-month high of $69.73. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.50. The stock has a market cap of $8.03 billion, a P/E ratio of 14.17, a PEG ratio of 2.29 and a beta of 0.80.
Macerich (NYSE:MAC) last posted its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.91). Macerich had a return on equity of 1.58% and a net margin of 2.52%. The firm had revenue of $234.50 million for the quarter, compared to analyst estimates of $216.37 million. During the same period in the previous year, the company posted $0.19 EPS. Macerich’s revenue was down 5.1% on a year-over-year basis. equities analysts forecast that Macerich will post 3.91 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank lifted its stake in Macerich by 17.3% during the 2nd quarter. Toronto Dominion Bank now owns 69,502 shares of the real estate investment trust’s stock worth $3,948,000 after acquiring an additional 10,273 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Macerich by 78.6% in the 2nd quarter. Mutual of America Capital Management LLC now owns 24,755 shares of the real estate investment trust’s stock valued at $1,407,000 after purchasing an additional 10,892 shares in the last quarter. Third Avenue Management LLC raised its position in Macerich by 29.9% in the 2nd quarter. Third Avenue Management LLC now owns 1,580,774 shares of the real estate investment trust’s stock valued at $89,836,000 after purchasing an additional 363,613 shares in the last quarter. Standard Life Aberdeen plc raised its position in Macerich by 424.5% in the 2nd quarter. Standard Life Aberdeen plc now owns 246,834 shares of the real estate investment trust’s stock valued at $14,028,000 after purchasing an additional 199,770 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Macerich by 4.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 443,730 shares of the real estate investment trust’s stock valued at $25,217,000 after purchasing an additional 18,332 shares in the last quarter. 96.30% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on MAC shares. Morgan Stanley decreased their price target on Macerich from $62.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 14th. BMO Capital Markets set a $66.00 price target on Macerich and gave the company a “buy” rating in a research note on Wednesday, August 1st. Zacks Investment Research raised Macerich from a “sell” rating to a “hold” rating in a research note on Monday, September 3rd. SunTrust Banks reaffirmed a “hold” rating and issued a $60.00 price target on shares of Macerich in a research note on Thursday, August 16th. Finally, Goldman Sachs Group raised Macerich from a “sell” rating to a “neutral” rating and upped their price target for the company from $52.00 to $64.00 in a research note on Tuesday, July 17th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $64.36.
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 52 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
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