The Macerich Company (NYSE:MAC – Get Rating) has been given a consensus rating of “Hold” by the twelve analysts currently covering the company, Marketbeat reports. Five equity analysts have rated the stock with a sell rating, two with a hold rating and two with a buy rating. The average 1-year target price among brokers who have rated the stock over the past year is $15.95.
MAC has been the subject of several research reports. Compass Point lowered its price target on Macerich to $20.00 from $27.00 and issued a research note with a “buy” rating on Wednesday, June 22nd. StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a report Monday. Morgan Stanley lowered its price target on Macerich shares to $8.50 from $11.25 and gave the stock an “underweight” rating in a report on Thursday, July 7. Truist Financial lowered its price target on Macerich to $14.00 from $18.00 and gave the company a “hold” rating in a report Tuesday, June 21. Finally, Piper Sandler lowered her target price on Macerich to $9.00 in a report on Monday, July 4th.
Insiders place their bets
Also on Thursday, June 30, President Edward C. Coppola acquired 60,000 shares of the company’s stock in a transaction. The shares were acquired at an average price of $8.75 per share for a total transaction of $525,000.00. Following the purchase, the President now owns 575,739 shares of the company’s stock valued at $5,037,716.25. The acquisition was disclosed in a filing with the SEC, which is available through the SEC’s website. In related news, CEO Mr. Thomas EO acquired 25,000 shares of the company in a transaction on Monday, June 13. The stock was purchased at an average price of $9.49 per share for a total value of $237,250.00. Upon completion of the acquisition, the Chief Executive Officer now owns 162,880 shares of the Company, valued at approximately $1,545,731.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In addition, President Edward C. Coppola purchased 60,000 shares of the company’s shares in a transaction dated Thursday, June 30. The shares were purchased at an average price of $8.75 per share for a total transaction of $525,000.00. Following the purchase, the President now directly owns 575,739 shares of the company’s stock valued at $5,037,716.25. The disclosure for this purchase can be found here. During the most recent quarter, insiders bought 125,000 shares of the company’s stock for $1,173,450. Insiders own 1.77% of the company’s shares.
Institutional inflows and outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in Macerich shares by 450.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,619 shares of the Real Estate Investment Trust valued at $25,000 after purchasing an additional 1,325 shares during the period. Whittier Trust Co. increased its position in Macerich shares by 201.1% in the first quarter. Whittier Trust Co. now owns 2,246 shares of the real estate investment trust worth $35,000 after purchasing an additional 1,500 shares last quarter. West Bancorporation Inc. acquired a new interest in Macerich stock valued at approximately $40,000 during the fourth quarter. Spire Wealth Management increased its position in Macerich shares by 106.6% in the fourth quarter. Spire Wealth Management now owns 2,424 shares of the $42,000 Real Estate Investment Trust after purchasing an additional 1,251 shares last quarter. Finally, Compagnie Lombard Odier SCmA increased its stake in Macerich by 546.2% in Q4. Compagnie Lombard Odier SCmA now owns 4,200 shares of the real estate mutual fund, valued at $72,000, after buying another 3,550 shares last quarter. Hedge funds and other institutional investors own 84.57% of the company’s shares.
Macerich shares up 1.4%
NYSE:MAC opened at $9.41 on Tuesday. The stock has a 50-day simple moving average of $10.39 and a 200-day simple moving average of $13.63. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.44. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 47.05, a price-to-earnings-to-growth ratio of 1.13 and a beta of 1.94. Macerich has a 12-month low of $8.42 and a 12-month high of $22.88.
Macerich (NYSE:MAC – Get Rating) last released its quarterly earnings data on Monday, May 9th. The Real Estate Investment Trust reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.63). The company had revenue of $216.10 million for the quarter, compared to analysts’ expectations of $209.20 million. Macerich had a net margin of 4.66% and a return on equity of 1.29%. Macerich’s quarterly sales rose 13.5% year over year. In the same period last year, the company generated earnings per share of $0.45. Analysts expect Macerich to post 1.96 EPS for the current year.
Macerich dividend announcement
The company also recently announced a quarterly dividend, which was paid on Friday, June 3rd. Stockholders of record on Friday, May 20 received a dividend of $0.15 per share. That equates to an annualized dividend of $0.60 and a yield of 6.38%. The ex-dividend date of this dividend was Thursday May 19th. Macerich’s payout ratio is currently 300.00%.
Macerich company profile
Macerich is a fully integrated, self-managed and self-managed real estate investment trust focused on acquiring, leasing, managing, developing and redeveloping regional shopping centers throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional malls.
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