Macerich Target of Unusually High Options Trading (NYSE:MAC)

The Macerich Company (NYSE:MAC) saw unusually large options trading on Tuesday. Stock traders purchased 2,237 put options on the stock. This represents an increase of approximately 263% compared to the average daily volume of 616 put options.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MAC. Citigroup Inc. boosted its stake in Macerich by 32.3% during the third quarter. Citigroup Inc. now owns 359,069 shares of the real estate investment trust’s stock worth $6,549,000 after buying an additional 87,611 shares in the last quarter. Bamco Inc. NY lifted its holdings in shares of Macerich by 742.3% during the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock worth $30,924,000 after acquiring an additional 1,494,145 shares during the period. Friedenthal Financial acquired a new stake in shares of Macerich during the 4th quarter valued at about $771,000. Smartleaf Asset Management LLC increased its stake in Macerich by 314.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 2,630 shares during the period. Finally, Van ECK Associates Corp raised its position in Macerich by 20.4% in the fourth quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust’s stock worth $893,000 after purchasing an additional 7,608 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Stock Down 0.1 %

NYSE MAC opened at $17.42 on Thursday. Macerich has a twelve month low of $12.99 and a twelve month high of $22.27. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $4.40 billion, a PE ratio of 44.65, a PEG ratio of 0.71 and a beta of 2.62. The firm has a 50-day simple moving average of $19.13 and a 200 day simple moving average of $19.15.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Tuesday, March 4th. Macerich’s payout ratio is presently -86.08%.

Analyst Ratings Changes

A number of brokerages have recently commented on MAC. Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and increased their price objective for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on Macerich in a report on Tuesday, December 17th. They set a “hold” rating and a $22.00 price target on the stock. Morgan Stanley upgraded shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective for the company in a research note on Wednesday, January 15th. Scotiabank lowered their target price on shares of Macerich from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 6th. Finally, Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.49.

Macerich Company Profile

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.