Stock Traders Buy Large Volume of Macerich Put Options (NYSE:MAC)

Macerich Co (NYSE:MAC) was the recipient of unusually large options trading on Monday. Stock traders acquired 12,568 put options on the stock. This represents an increase of 1,746% compared to the typical volume of 681 put options.

Several equities research analysts recently issued reports on MAC shares. TheStreet lowered shares of Macerich from a “c” rating to a “d+” rating in a report on Thursday, October 31st. ValuEngine raised shares of Macerich from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. BMO Capital Markets lowered shares of Macerich from an “outperform” rating to a “market perform” rating and cut their target price for the company from $40.00 to $33.00 in a research report on Thursday, September 26th. SunTrust Banks decreased their target price on shares of Macerich from $43.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, August 23rd. Finally, Barclays set a $33.00 price target on shares of Macerich and gave the stock a “hold” rating in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. Macerich has an average rating of “Hold” and a consensus target price of $39.19.

Shares of NYSE MAC opened at $26.51 on Tuesday. The company has a 50 day simple moving average of $27.64 and a 200 day simple moving average of $31.59. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.78 and a quick ratio of 0.78. Macerich has a 1 year low of $25.53 and a 1 year high of $51.08. The firm has a market cap of $3.80 billion, a PE ratio of 6.89, a price-to-earnings-growth ratio of 5.57 and a beta of 0.70.

Macerich (NYSE:MAC) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.02). Macerich had a return on equity of 2.69% and a net margin of 8.76%. The business had revenue of $214.30 million for the quarter, compared to the consensus estimate of $216.69 million. During the same period in the previous year, the firm earned $0.52 earnings per share. The company’s revenue was down 4.5% compared to the same quarter last year. As a group, research analysts anticipate that Macerich will post 3.56 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.75 per share. The ex-dividend date is Thursday, November 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.32%. Macerich’s dividend payout ratio (DPR) is presently 77.92%.

In other Macerich news, Director Steve Hash bought 10,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $26.44 per share, for a total transaction of $264,400.00. Following the completion of the transaction, the director now directly owns 26,884 shares in the company, valued at approximately $710,812.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Christopher J. Zecchini sold 1,500 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $27.70, for a total value of $41,550.00. Following the transaction, the chief accounting officer now directly owns 5,672 shares of the company’s stock, valued at approximately $157,114.40. The disclosure for this sale can be found here. 1.73% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its position in Macerich by 4,159.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,363 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 1,331 shares during the last quarter. Cornerstone Advisors Inc. lifted its holdings in Macerich by 91.9% during the 3rd quarter. Cornerstone Advisors Inc. now owns 2,098 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 1,005 shares during the period. Meeder Asset Management Inc. grew its position in shares of Macerich by 49.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,552 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 841 shares during the last quarter. CSat Investment Advisory L.P. grew its position in shares of Macerich by 69.1% in the 2nd quarter. CSat Investment Advisory L.P. now owns 2,611 shares of the real estate investment trust’s stock valued at $88,000 after buying an additional 1,067 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Macerich by 56.9% in the third quarter. Quadrant Capital Group LLC now owns 3,106 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 1,126 shares during the period.

About Macerich

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.

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