Traders Purchase Large Volume of Macerich Put Options (MAC)
Macerich Co (NYSE:MAC) saw unusually large options trading on Tuesday. Stock investors acquired 1,712 put options on the stock. This is an increase of 2,183% compared to the average volume of 75 put options.
Shares of NYSE:MAC opened at $40.59 on Thursday. Macerich has a 1 year low of $39.71 and a 1 year high of $60.95. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 6.48 and a beta of 0.83. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.66.
Macerich (NYSE:MAC) last announced its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.76). The firm had revenue of $216.34 million during the quarter, compared to analysts’ expectations of $206.88 million. Macerich had a net margin of 10.67% and a return on equity of 3.75%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. Analysts anticipate that Macerich will post 3.56 EPS for the current fiscal year.
In other Macerich news, SVP Kenneth Volk sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $42.19, for a total transaction of $210,950.00. Following the sale, the senior vice president now directly owns 12,399 shares of the company’s stock, valued at $523,113.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hern Thomas E. O acquired 10,000 shares of Macerich stock in a transaction on Wednesday, May 8th. The shares were bought at an average cost of $40.99 per share, for a total transaction of $409,900.00. The disclosure for this purchase can be found here. Insiders own 1.73% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Presima Inc. boosted its holdings in shares of Macerich by 53.8% in the first quarter. Presima Inc. now owns 1,535,000 shares of the real estate investment trust’s stock valued at $66,542,000 after purchasing an additional 536,700 shares during the period. Accident Compensation Corp boosted its holdings in shares of Macerich by 182.6% in the fourth quarter. Accident Compensation Corp now owns 27,411 shares of the real estate investment trust’s stock valued at $1,186,000 after purchasing an additional 17,711 shares during the period. BlackRock Inc. boosted its holdings in shares of Macerich by 1.6% in the fourth quarter. BlackRock Inc. now owns 11,780,366 shares of the real estate investment trust’s stock valued at $509,854,000 after purchasing an additional 187,685 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Macerich by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 1,839,795 shares of the real estate investment trust’s stock valued at $79,522,000 after purchasing an additional 137,642 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Macerich by 346.6% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 145,414 shares of the real estate investment trust’s stock valued at $6,294,000 after purchasing an additional 112,851 shares during the period. Hedge funds and other institutional investors own 98.01% of the company’s stock.
Several equities research analysts have weighed in on MAC shares. Royal Bank of Canada reissued a “hold” rating and set a $46.00 price objective on shares of Macerich in a research note on Tuesday, February 26th. Jefferies Financial Group restated a “hold” rating and set a $46.00 target price on shares of Macerich in a research report on Wednesday, February 13th. BMO Capital Markets restated a “buy” rating and set a $56.00 target price on shares of Macerich in a research report on Thursday, February 7th. Deutsche Bank dropped their target price on Macerich from $51.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, February 12th. Finally, Mizuho lowered Macerich from a “buy” rating to a “neutral” rating and set a $48.00 target price for the company. in a research report on Wednesday, January 23rd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $54.00.
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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 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.
Further Reading: Return on Investment (ROI) Defined, Explained
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