Forum Securities Ltd buys $2,215,965 stake in Macerich Co (MAC)

Macerich Co (MAC) : Forum Securities Ltd scooped up 82 additional shares in Macerich Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 25,559 shares of Macerich Co which is valued at $2,215,965.Macerich Co makes up approximately 6.40% of Forum Securities Ltd’s portfolio.

Other Hedge Funds, Including , Mutual Of America Capital Management reduced its stake in MAC by selling 518 shares or 3.41% in the most recent quarter. The Hedge Fund company now holds 14,684 shares of MAC which is valued at $1,273,103. Macerich Co makes up approx 0.03% of Mutual Of America Capital Management’s portfolio.World Asset Management Inc reduced its stake in MAC by selling 191 shares or 1.18% in the most recent quarter. The Hedge Fund company now holds 15,950 shares of MAC which is valued at $1,382,865. Macerich Co makes up approx 0.05% of World Asset Management Inc’s portfolio.Alps Advisors Inc reduced its stake in MAC by selling 351 shares or 2.35% in the most recent quarter. The Hedge Fund company now holds 14,597 shares of MAC which is valued at $1,284,828. Macerich Co makes up approx 0.01% of Alps Advisors Inc’s portfolio.American Investment Services reduced its stake in MAC by selling 565 shares or 13.34% in the most recent quarter. The Hedge Fund company now holds 3,670 shares of MAC which is valued at $326,557. Macerich Co makes up approx 0.14% of American Investment Services’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in MAC by selling 8,612 shares or 20.28% in the most recent quarter. The Hedge Fund company now holds 33,850 shares of MAC which is valued at $2,961,537. Macerich Co makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

Macerich Co opened for trading at $86.13 and hit $86.93 on the upside on Monday, eventually ending the session at $86.29, with a gain of 0.09% or 0.08 points. The heightened volatility saw the trading volume jump to 5,50,059 shares. Company has a market cap of $12,393 M.

On the company’s financial health, Macerich Co reported $1.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.98. The company had revenue of $259.90 million for the quarter, compared to analysts expectations of $248.81 million. The company’s revenue was down -19.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.90 EPS.

Investors should note that on Jul 22, 2016, Macerich Co announced a cash dividend of $0.6800. The company’s management has announced Aug 17, 2016 as the ex-dividend date and fixed the record date on Aug 19, 2016. The payable date has been fixed on Sep 8, 2016.

Many Wall Street Analysts have commented on Macerich Co. Company shares were Upgraded by RBC Capital Mkts on May 6, 2016 to ” Outperform”, Firm has raised the Price Target to $ 87 from a previous price target of $82 .

The Macerich Company is a self-managed and self-administered real estate investment trust (REIT). The Company is engaged in the acquisition ownership development redevelopment management and leasing of regional and community/power shopping centers located throughout the United States. The Company through its partnership and ownership interests in the Macerich Partnership L.P. has an ownership interest in 51 regional shopping centers and eight community/power shopping centers. These 59 regional and community/power shopping centers (which include any related office space) consist of approximately 55 million square feet of gross leasable area (GLA). The Centers primarily included 194 Anchors totaling approximately 28 million square feet of GLA and approximately 6000 Mall Stores and Freestanding Stores totaling approximately 26 million square feet of GLA.

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