Presima buys $606,900 stake in Macerich Co (MAC)

Macerich Co (MAC) : Presima scooped up 100 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 7,000 shares of Macerich Co which is valued at $606,900.Macerich Co makes up approximately 0.09% of Presima’s portfolio.

Other Hedge Funds, Including , Exane Derivatives boosted its stake in MAC in the latest quarter, The investment management firm added 4,998 additional shares and now holds a total of 5,101 shares of Macerich Co which is valued at $442,257. Macerich Co makes up approx 0.07% of Exane Derivatives’s portfolio. Quantbot Technologies Lp sold out all of its stake in MAC during the most recent quarter. The investment firm sold 5,767 shares of MAC which is valued $499,999.Shinko Asset Management Ltd. reduced its stake in MAC by selling 3,548 shares or 0.17% in the most recent quarter. The Hedge Fund company now holds 2,032,164 shares of MAC which is valued at $180,781,309. Macerich Co makes up approx 1.23% of Shinko Asset Management Ltd.’s portfolio.Cibc World Markets reduced its stake in MAC by selling 2,666 shares or 9.87% in the most recent quarter. The Hedge Fund company now holds 24,358 shares of MAC which is valued at $2,166,888. Macerich Co makes up approx 0.01% of Cibc World Markets’s portfolio. Acadian Asset Management sold out all of its stake in MAC during the most recent quarter. The investment firm sold 4,337 shares of MAC which is valued $386,600.

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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