Stock Traders Buy Large Volume of Put Options on Macerich Company (The) (MAC)

Macerich Company (The) (NYSE:MAC) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 4,803 put options on the company. This is an increase of approximately Infinity compared to the typical volume of 0 put options.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Macerich Company (The) by 33.7% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 35,862 shares of the real estate investment trust’s stock valued at $2,082,000 after acquiring an additional 9,044 shares in the last quarter. Apollo Management Holdings L.P. bought a new stake in Macerich Company (The) in the 2nd quarter valued at $3,039,000. Kempen Capital Management N.V. lifted its position in Macerich Company (The) by 45.2% in the 2nd quarter. Kempen Capital Management N.V. now owns 83,913 shares of the real estate investment trust’s stock valued at $4,871,000 after acquiring an additional 26,139 shares in the last quarter. Toronto Dominion Bank lifted its position in Macerich Company (The) by 23.8% in the 2nd quarter. Toronto Dominion Bank now owns 40,383 shares of the real estate investment trust’s stock valued at $2,344,000 after acquiring an additional 7,751 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in Macerich Company (The) by 10.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,017,873 shares of the real estate investment trust’s stock valued at $59,098,000 after acquiring an additional 98,499 shares in the last quarter. 94.68% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have commented on MAC shares. KeyCorp reaffirmed a “buy” rating and set a $75.00 target price on shares of Macerich Company (The) in a report on Monday, August 28th. BidaskClub raised shares of Macerich Company (The) from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $57.00 target price on shares of Macerich Company (The) in a report on Monday, July 17th. BMO Capital Markets started coverage on shares of Macerich Company (The) in a report on Monday, September 11th. They set a “market perform” rating and a $55.00 target price for the company. Finally, Zacks Investment Research lowered shares of Macerich Company (The) from a “hold” rating to a “sell” rating in a report on Monday, July 17th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $67.00.

Macerich Company (MAC) opened at $54.39 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 2.62 and a beta of 0.80.

Macerich Company (The) (NYSE:MAC) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.86). The firm had revenue of $242.50 million for the quarter, compared to the consensus estimate of $226.00 million. Macerich Company (The) had a return on equity of 3.56% and a net margin of 14.92%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 earnings per share. equities analysts anticipate that Macerich Company will post 3.96 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a $0.74 dividend. This is a boost from Macerich Company (The)’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a yield of 5.44%. The ex-dividend date is Thursday, November 9th. Macerich Company (The)’s payout ratio is currently 270.48%.

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About Macerich Company (The)

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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