Heavy Volume And Pre-Market Movement For Macerich (MAC)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Macerich ( MAC) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Macerich as such a stock due to the following factors:

  • MAC has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $79.3 million.
  • MAC traded 115,682 shares today in the pre-market hours as of 8:12 AM, representing 11.3% of its average daily volume.

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More details on MAC:

The Macerich Company is an independent real estate investment trust. The firm invests in the real estate markets of the United States. The stock currently has a dividend yield of 3.2%. MAC has a PE ratio of 8. Currently there is 1 analyst that rates Macerich a buy, no analysts rate it a sell, and 14 rate it a hold.

The average volume for Macerich has been 1.7 million shares per day over the past 30 days. Macerich has a market cap of $12.9 billion and is part of the financial sector and real estate industry. The stock has a beta of 0.74 and a short float of 3.4% with 3.92 days to cover. Shares are down 2.1% year-to-date as of the close of trading on Wednesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Macerich as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, good cash flow from operations, solid stock price performance and compelling growth in net income. We feel its strengths outweigh the fact that the company shows low profit margins.

Highlights from the ratings report include:
  • MAC's revenue growth has slightly outpaced the industry average of 8.5%. Since the same quarter one year prior, revenues rose by 17.4%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Real Estate Investment Trusts (REITs) industry and the overall market, MACERICH CO's return on equity significantly exceeds that of both the industry average and the S&P 500.
  • The stock has not only risen over the past year, it has done so at a faster pace than the S&P 500, reflecting the earnings growth and other positive factors similar to those we have cited here. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
  • The company, on the basis of net income growth from the same quarter one year ago, has significantly outperformed against the S&P 500 and exceeded that of the Real Estate Investment Trusts (REITs) industry average. The net income increased by 38.1% when compared to the same quarter one year prior, rising from $17.82 million to $24.61 million.
  • Net operating cash flow has significantly increased by 65.58% to $162.13 million when compared to the same quarter last year. In addition, MACERICH CO has also vastly surpassed the industry average cash flow growth rate of 0.79%.

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