Kemper Corp Master Retirement Trust Lowers stake in Macerich Co (MAC)

Macerich Co (MAC) : Kemper Corp Master Retirement Trust reduced its stake in Macerich Co by 2.54% during the most recent quarter end. The investment management company now holds a total of 9,610 shares of Macerich Co which is valued at $719,789 after selling 250 shares in Macerich Co , the firm said in a disclosure report filed with the SEC on May 13, 2016.Macerich Co makes up approximately 0.37% of Kemper Corp Master Retirement Trust’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in MAC in the latest quarter, The investment management firm added 29,931 additional shares and now holds a total of 73,329 shares of Macerich Co which is valued at $5.5 Million. Macerich Co makes up approx 0.07% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Tobam reduced its stake in MAC by selling 142,955 shares or 62.41% in the most recent quarter. The Hedge Fund company now holds 86,100 shares of MAC which is valued at $6.4 Million. Macerich Co makes up approx 0.26% of Tobam’s portfolio.Cibc Asset Management Inc boosted its stake in MAC in the latest quarter, The investment management firm added 259 additional shares and now holds a total of 15,428 shares of Macerich Co which is valued at $1.2 Million. Macerich Co makes up approx 0.01% of Cibc Asset Management Inc’s portfolio.

Macerich Co closed down -0.19 points or -0.25% at $75.41 with 11,06,624 shares getting traded on Wednesday. Post opening the session at $75.52, the shares hit an intraday low of $74.65 and an intraday high of $75.74 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Macerich Co reported $0.87 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.86. The company had revenue of $256.00 million for the quarter, compared to analysts expectations of $269.52 million. The company’s revenue was down -19.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.79 EPS.

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 .Mizuho Initiated Macerich Co on Apr 14, 2016 to “Neutral”, Price Target of the shares are set at $88.Macerich Co was Downgraded by BofA/Merrill to ” Neutral” on Mar 28, 2016.

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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