The Macerich Company (NYSE:MAC - Get Free Report) insider Ann C. Menard acquired 4,865 shares of the company's stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average cost of $15.40 per share, for a total transaction of $74,921.00. Following the purchase, the insider now directly owns 20,633 shares of the company's stock, valued at $317,748.20. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
Macerich Price Performance
MAC opened at $15.84 on Thursday. The Macerich Company has a 52-week low of $9.05 and a 52-week high of $17.69. The company's 50-day simple moving average is $15.97 and its two-hundred day simple moving average is $14.76. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.95 and a current ratio of 1.03. The stock has a market capitalization of $3.42 billion, a P/E ratio of -10.15, a P/E/G ratio of 1.64 and a beta of 2.38.
Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.55 by ($0.26). The company had revenue of $238.70 million during the quarter, compared to analysts' expectations of $224.49 million. Macerich had a negative return on equity of 13.42% and a negative net margin of 38.96%. The business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. As a group, analysts predict that The Macerich Company will post 1.77 EPS for the current year.
Macerich Announces Dividend
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The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a $0.17 dividend. The ex-dividend date is Friday, May 17th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.29%. Macerich's payout ratio is currently -43.59%.
Institutional Trading of Macerich
Institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC increased its stake in Macerich by 152.4% in the 4th quarter. Signaturefd LLC now owns 2,166 shares of the real estate investment trust's stock worth $33,000 after buying an additional 1,308 shares in the last quarter. Anchor Investment Management LLC bought a new position in shares of Macerich in the fourth quarter worth about $40,000. Quest Partners LLC purchased a new stake in shares of Macerich during the fourth quarter worth about $41,000. Fidelis Capital Partners LLC purchased a new stake in shares of Macerich during the first quarter worth about $46,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Macerich during the 3rd quarter valued at approximately $36,000. 87.38% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have recently commented on MAC shares. Citigroup raised Macerich from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd. Truist Financial reissued a "hold" rating and issued a $16.00 target price on shares of Macerich in a research note on Monday, March 25th. Piper Sandler lowered Macerich from a "neutral" rating to an "underweight" rating and lowered their price target for the stock from $17.00 to $11.00 in a research report on Wednesday, May 1st. The Goldman Sachs Group increased their price objective on shares of Macerich from $9.00 to $13.00 and gave the company a "sell" rating in a research report on Thursday, January 11th. Finally, Compass Point decreased their target price on shares of Macerich from $20.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $14.83.
Check Out Our Latest Research Report on Macerich
Macerich Company Profile
(
Get Free Report)
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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