South Street Advisors buys $11,103,206 stake in Macerich Co (MAC)

Macerich Co (MAC) : South Street Advisors scooped up 2,355 additional shares in Macerich Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 131,430 shares of Macerich Co which is valued at $11,103,206.Macerich Co makes up approximately 3.55% of South Street Advisors’s portfolio.

Other Hedge Funds, Including , Great Lakes Advisors reduced its stake in MAC by selling 8,314 shares or 69.73% in the most recent quarter. The Hedge Fund company now holds 3,609 shares of MAC which is valued at $304,888. Macerich Co makes up approx 0.01% of Great Lakes Advisors’s portfolio.Bnp Paribas Investment Partners S.a. boosted its stake in MAC in the latest quarter, The investment management firm added 336,095 additional shares and now holds a total of 478,570 shares of Macerich Co which is valued at $40,309,951. Macerich Co makes up approx 0.34% of Bnp Paribas Investment Partners S.a.’s portfolio.Oregon Public Employees Retirement Fund reduced its stake in MAC by selling 900 shares or 4.63% in the most recent quarter. The Hedge Fund company now holds 18,532 shares of MAC which is valued at $1,606,724. Macerich Co makes up approx 0.03% of Oregon Public Employees Retirement Fund’s portfolio.Ibm Retirement Fund reduced its stake in MAC by selling 1,518 shares or 8.2% in the most recent quarter. The Hedge Fund company now holds 17,004 shares of MAC which is valued at $1,512,676. Macerich Co makes up approx 0.05% of Ibm Retirement Fund’s portfolio.

Macerich Co closed down -0.41 points or -0.50% at $81.48 with 6,10,048 shares getting traded on Thursday. Post opening the session at $81.96, the shares hit an intraday low of $81.22 and an intraday high of $82.07 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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.

Many Wall Street Analysts have commented on Macerich Co. Company shares were Reiterated by Canaccord Genuity on Aug 16, 2016 to “Hold”, Firm has raised the Price Target to $ 84 from a previous price target of $80 .

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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