The Macerich Company (NYSE:MAC - Get Free Report) Director Edward C. Coppola sold 20,000 shares of Macerich stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $17.01, for a total value of $340,200.00. Following the completion of the transaction, the director now owns 635,667 shares of the company's stock, valued at approximately $10,812,695.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Macerich Trading Up 0.8 %
Macerich stock opened at $17.23 on Friday. The company has a 50 day moving average price of $16.58 and a 200-day moving average price of $13.88. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.67. The Macerich Company has a fifty-two week low of $9.05 and a fifty-two week high of $17.69.
Macerich (NYSE:MAC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.26). Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The company had revenue of $238.70 million for the quarter, compared to the consensus estimate of $224.49 million. During the same period in the prior year, the firm posted $0.53 EPS. The business's revenue was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that The Macerich Company will post 1.81 earnings per share for the current year.
Macerich Dividend Announcement
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Friday, February 16th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.95%. The ex-dividend date was Thursday, February 15th. Macerich's payout ratio is -53.54%.
Analysts Set New Price Targets
Several research analysts recently commented on MAC shares. StockNews.com upgraded Macerich from a "sell" rating to a "hold" rating in a research report on Tuesday, March 12th. Citigroup upgraded Macerich from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd. The Goldman Sachs Group raised their price objective on shares of Macerich from $9.00 to $13.00 and gave the stock a "sell" rating in a research note on Thursday, January 11th. Piper Sandler raised their price objective on shares of Macerich from $12.00 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 20th. Finally, Truist Financial reissued a "hold" rating and issued a $16.00 price objective on shares of Macerich in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, Macerich currently has an average rating of "Hold" and an average target price of $14.40.
Read Our Latest Report on MAC
Hedge Funds Weigh In On Macerich
A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Macerich by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 34,478,278 shares of the real estate investment trust's stock worth $532,000,000 after acquiring an additional 336,251 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Macerich by 0.7% during the 1st quarter. BlackRock Inc. now owns 30,909,711 shares of the real estate investment trust's stock worth $327,643,000 after buying an additional 224,394 shares during the last quarter. State Street Corp increased its holdings in shares of Macerich by 6.3% during the 2nd quarter. State Street Corp now owns 14,327,975 shares of the real estate investment trust's stock worth $161,476,000 after buying an additional 855,355 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Macerich by 867.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 8,732,108 shares of the real estate investment trust's stock worth $98,411,000 after buying an additional 7,829,876 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Macerich by 3.1% during the 1st quarter. JPMorgan Chase & Co. now owns 6,716,461 shares of the real estate investment trust's stock worth $71,194,000 after buying an additional 203,180 shares during the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.
About Macerich
(
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Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.
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