Tradition Capital Management adds Macerich Co (MAC) to its portfolio

Macerich Co (MAC) : Tradition Capital Management added new position in Macerich Co during the most recent quarter end. The investment management firm now holds 16,160 shares of Macerich Co which is valued at $1,401,072 , the company said in a statement filed on Aug 1, 2016 with the SEC.Macerich Co makes up approximately 0.46% of Tradition Capital Management’s portfolio.

Other Hedge Funds, Including , Ngam Advisors reduced its stake in MAC by selling 3,824 shares or 5.41% in the most recent quarter. The Hedge Fund company now holds 66,814 shares of MAC which is valued at $5,792,774. Macerich Co makes up approx 0.08% of Ngam Advisors’s portfolio.Duff Phelps Investment Management Co reduced its stake in MAC by selling 67,091 shares or 94.53% in the most recent quarter. The Hedge Fund company now holds 3,880 shares of MAC which is valued at $346,251. Macerich Co makes up approx 0.01% of Duff Phelps Investment Management Co’s portfolio.Retirement Systems Of Alabama reduced its stake in MAC by selling 105,848 shares or 24.9% in the most recent quarter. The Hedge Fund company now holds 319,248 shares of MAC which is valued at $28,100,209. Macerich Co makes up approx 0.16% of Retirement Systems Of Alabama’s portfolio.

Macerich Co closed down -0.82 points or -0.95% at $85.88 with 9,15,162 shares getting traded on Thursday. Post opening the session at $86.49, the shares hit an intraday low of $85.75 and an intraday high of $86.73 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.

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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