Traders Purchase High Volume of Put Options on Macerich (NYSE:MAC)

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Macerich Co (NYSE:MAC) saw unusually large options trading on Monday. Stock traders bought 12,568 put options on the company. This is an increase of approximately 1,746% compared to the average volume of 681 put options.

In other news, CAO Christopher J. Zecchini sold 1,500 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $27.70, for a total transaction of $41,550.00. Following the completion of the sale, the chief accounting officer now owns 5,672 shares of the company’s stock, valued at $157,114.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steve Hash acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $26.44 per share, for a total transaction of $264,400.00. Following the completion of the acquisition, the director now owns 26,884 shares of the company’s stock, valued at $710,812.96. The disclosure for this purchase can be found here. Insiders own 1.73% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in shares of Macerich by 4,159.4% in the third quarter. Parallel Advisors LLC now owns 1,363 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 1,331 shares in the last quarter. Cornerstone Advisors Inc. lifted its stake in Macerich by 91.9% in the third quarter. Cornerstone Advisors Inc. now owns 2,098 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 1,005 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Macerich by 49.2% in the third quarter. Meeder Asset Management Inc. now owns 2,552 shares of the real estate investment trust’s stock valued at $80,000 after acquiring 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 acquiring an additional 1,067 shares during the period. Finally, Quadrant Capital Group LLC grew its position in shares of Macerich by 56.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 3,106 shares of the real estate investment trust’s stock valued at $91,000 after acquiring an additional 1,126 shares during the period.

Several analysts have issued reports on MAC shares. TheStreet downgraded Macerich from a “c” rating to a “d+” rating in a research note on Thursday, October 31st. ValuEngine raised Macerich from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Morgan Stanley decreased their price objective on Macerich from $30.00 to $26.50 and set an “underweight” rating for the company in a report on Tuesday, September 3rd. BMO Capital Markets lowered Macerich from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $40.00 to $33.00 in a research report on Thursday, September 26th. Finally, Citigroup cut their target price on Macerich from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $39.19.

Macerich stock opened at $26.51 on Tuesday. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 6.89, a P/E/G ratio of 5.57 and a beta of 0.70. The firm has a 50-day moving average of $27.64 and a 200-day 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 one year low of $25.53 and a one year high of $51.08.

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

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

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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