Traders Buy Macerich (MAC) on Weakness

Traders purchased shares of Macerich Co (NYSE:MAC) on weakness during trading on Wednesday. $48.26 million flowed into the stock on the tick-up and $15.80 million flowed out of the stock on the tick-down, for a money net flow of $32.46 million into the stock. Of all equities tracked, Macerich had the 17th highest net in-flow for the day. Macerich traded down ($0.96) for the day and closed at $65.65

Several research analysts have recently issued reports on the company. Royal Bank of Canada cut Macerich from an “outperform” rating to a “sector perform” rating and set a $66.00 price objective for the company. in a research report on Wednesday. KeyCorp reaffirmed a “buy” rating and set a $75.00 price objective on shares of Macerich in a research report on Thursday, September 28th. Jefferies Group reaffirmed a “hold” rating and set a $57.00 price objective on shares of Macerich in a research report on Tuesday, September 26th. JPMorgan Chase & Co. raised Macerich from a “neutral” rating to an “overweight” rating and set a $68.00 price objective for the company in a research report on Tuesday, September 26th. Finally, BMO Capital Markets assumed coverage on Macerich in a research report on Monday, September 11th. They set a “market perform” rating and a $55.00 price objective for the company. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the stock. Macerich currently has an average rating of “Hold” and an average price target of $66.85.

The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $9,241.74, a price-to-earnings ratio of 60.95, a price-to-earnings-growth ratio of 3.05 and a beta of 0.88.

Macerich (NYSE:MAC) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.86). Macerich had a net margin of 14.92% and a return on equity of 3.56%. The firm had revenue of $242.50 million during the quarter, compared to analysts’ expectations of $226.00 million. During the same period in the previous year, the firm posted $1.04 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. analysts predict that Macerich Co will post 3.94 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC lifted its holdings in shares of Macerich by 11.1% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 256,391 shares of the real estate investment trust’s stock valued at $14,094,000 after purchasing an additional 25,696 shares during the last quarter. Eii Capital Management Inc. raised its stake in Macerich by 206.0% during the 3rd quarter. Eii Capital Management Inc. now owns 51,714 shares of the real estate investment trust’s stock valued at $2,843,000 after acquiring an additional 34,814 shares during the last quarter. California Public Employees Retirement System raised its stake in Macerich by 6.3% during the 3rd quarter. California Public Employees Retirement System now owns 373,379 shares of the real estate investment trust’s stock valued at $20,525,000 after acquiring an additional 21,975 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in Macerich during the 3rd quarter valued at approximately $621,000. Finally, Cubist Systematic Strategies LLC raised its stake in Macerich by 60.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 10,577 shares of the real estate investment trust’s stock valued at $581,000 after acquiring an additional 4,001 shares during the last quarter. 97.58% of the stock is owned by institutional investors and hedge funds.

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Macerich 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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