Ann C. Menard Buys 4,865 Shares of The Macerich Company (NYSE:MAC) Stock

The Macerich Company (NYSE:MAC) insider Ann C. Menard bought 4,865 shares of the stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average price of $15.40 per share, with a total value of $74,921.00. Following the completion of the purchase, the insider now owns 20,633 shares of the company’s stock, valued at approximately $317,748.20. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Macerich Stock Up 3.9 %

Shares of NYSE:MAC traded up $0.59 during trading on Wednesday, hitting $15.84. 4,300,174 shares of the company’s stock traded hands, compared to its average volume of 2,039,245. The Macerich Company has a 52 week low of $9.05 and a 52 week high of $17.69. The company has a current ratio of 1.03, a quick ratio of 0.95 and a debt-to-equity ratio of 1.85. The company has a market cap of $3.42 billion, a price-to-earnings ratio of -9.77, a price-to-earnings-growth ratio of 1.64 and a beta of 2.38. The company has a 50-day moving average price of $15.99 and a 200-day moving average price of $14.75.

Macerich (NYSE:MAC) last released its quarterly earnings data 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 38.96% and a negative return on equity of 13.42%. The business had revenue of $238.70 million for the quarter, compared to the consensus estimate of $224.49 million. During the same quarter last year, the firm earned $0.53 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, research analysts forecast that The Macerich Company will post 1.77 EPS for the current fiscal year.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Friday, May 17th. Macerich’s dividend payout ratio (DPR) is presently -43.59%.

Analysts Set New Price Targets

MAC has been the subject of a number of research reports. Piper Sandler lowered Macerich from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $17.00 to $11.00 in a research note on Wednesday, May 1st. Citigroup upgraded Macerich from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Compass Point lowered their price objective on Macerich from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Mizuho reduced their target price on Macerich from $17.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.83.

Hedge Funds Weigh In On Macerich

Institutional investors have recently modified their holdings of the business. Y.D. More Investments Ltd lifted its stake in Macerich by 0.9% in the 4th quarter. Y.D. More Investments Ltd now owns 81,330 shares of the real estate investment trust’s stock valued at $1,255,000 after acquiring an additional 745 shares in the last quarter. SeaCrest Wealth Management LLC lifted its stake in Macerich by 1.6% in the 1st quarter. SeaCrest Wealth Management LLC now owns 60,937 shares of the real estate investment trust’s stock valued at $1,050,000 after acquiring an additional 978 shares in the last quarter. Metis Global Partners LLC lifted its stake in Macerich by 8.2% in the 4th quarter. Metis Global Partners LLC now owns 13,666 shares of the real estate investment trust’s stock valued at $211,000 after acquiring an additional 1,040 shares in the last quarter. Van ECK Associates Corp lifted its stake in Macerich by 4.3% in the 3rd quarter. Van ECK Associates Corp now owns 25,312 shares of the real estate investment trust’s stock valued at $276,000 after acquiring an additional 1,049 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Macerich by 0.3% in the 1st quarter. Swiss National Bank now owns 425,415 shares of the real estate investment trust’s stock valued at $7,330,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

Macerich Company Profile

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.