November 29, 2016 - By Peter Erickson · 0 Comments
Macerich Co (NYSE:MAC) institutional sentiment increased to 0.91 in Q2 2016. Its up 0.07, from 0.84 in 2016Q1. The ratio is better, as 136 investment professionals opened new and increased positions, while 162 cut down and sold their positions in Macerich Co. The investment professionals in our partner’s database now possess: 134.93 million shares, down from 143.34 million shares in 2016Q1. Also, the number of investment professionals holding Macerich Co in their top 10 positions increased from 5 to 6 for an increase of 1. Sold All: 26 Reduced: 136 Increased: 100 New Position: 36.
The Macerich 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. The company has a market cap of $9.93 billion. It owns 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers. It has a 11.66 P/E ratio.
About 375,844 shares traded hands. Macerich Co (NYSE:MAC) has declined 10.51% since April 26, 2016 and is downtrending. It has underperformed by 15.77% the S&P500.
Analysts await Macerich Co (NYSE:MAC) to report earnings on February, 1. They expect $1.19 earnings per share, up 6.25% or $0.07 from last year’s $1.12 per share. MAC’s profit will be $170.81 million for 14.53 P/E if the $1.19 EPS becomes a reality. After $1.04 actual earnings per share reported by Macerich Co for the previous quarter, Wall Street now forecasts 14.42% EPS growth.
According to Zacks Investment Research, “MACERICH CO. is a self-administered, self-managed real estate investment trust which is engaged in the acquisition, ownership, redevelopment, management and leasing of regional shopping centers located throughout the United States.”
Ontario Teachers Pension Plan Board holds 22.16% of its portfolio in Macerich Co for 23.29 million shares. Forum Securities Ltd owns 25,559 shares or 6.53% of their US portfolio. Moreover, Oakwood Capital Management Llc Ca has 5.87% invested in the company for 263,302 shares. The Connecticut-based Cornerstone Real Estate Advisers Llc has invested 5% in the stock. Third Avenue Management Llc, a New York-based fund reported 1.05 million shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 1 buying transaction, and 7 selling transactions for $2.34 million net activity.
Ratings analysis reveals 40% of The Macerich Company’s analysts are positive. Out of 10 Wall Street analysts rating The Macerich Company, 4 give it “Buy”, 1 “Sell” rating, while 5 recommend “Hold”. The lowest target is $76 while the high is $102. The stock’s average target of $85.92 is 24.20% above today’s ($69.18) share price. MAC was included in 22 notes of analysts from July 21, 2015. The stock of Macerich Co (NYSE:MAC) earned “Hold” rating by Deutsche Bank on Monday, March 21. The rating was upgraded by Mizuho on Monday, November 7 to “Buy”. Canaccord Genuity initiated it with “Hold” rating and $78 target price in Wednesday, July 22 report. The rating was maintained by RBC Capital Markets on Tuesday, November 3 with “Sector Perform”. The firm has “Neutral” rating by Bank of America given on Monday, March 28. The company was upgraded on Thursday, September 17 by Zacks. The stock has “Buy” rating given by BTIG Research on Thursday, August 25. The company was upgraded on Friday, May 6 by RBC Capital Markets. The firm earned “Sector Perform” rating on Wednesday, October 7 by RBC Capital Markets. On Wednesday, March 16 the stock rating was reinitiated by Credit Suisse with “Underperform”.
The Macerich Company, incorporated on September 9, 1993, 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. The Firm owns 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers. It specializes in retail properties in many of the country’s populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, DC corridor.
More notable recent Macerich Co (NYSE:MAC) news were published by: Businesswire.com which released: “Macerich and Happy Returns Announce Three New Mall Locations for Innovative …” on November 29, 2016, also Wsj.com with their article: “Macerich Rejects Simon Property’s $16.8 Billion Takeover Bid” published on April 01, 2015, Prnewswire.com published: “Macerich And WithMeâ„¢ Bring Transformative Smart Retail Concept To The Mall …” on May 19, 2016. More interesting news about Macerich Co (NYSE:MAC) were released by: Forbes.com and their article: “Macerich (MAC) Shares Cross 4% Yield Mark” published on October 28, 2016 as well as Wsj.com‘s news article titled: “Macerich Settles Proxy Fight With Two Activist Hedge Funds” with publication date: May 04, 2015.
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By Peter Erickson