Macerich (NYSE:MAC) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Macerich (NYSE:MAC) from a hold rating to a sell rating in a research report report published on Tuesday.

MAC has been the subject of several other research reports. Truist Financial reaffirmed a hold rating and issued a $16.00 price target on shares of Macerich in a report on Monday, March 25th. The Goldman Sachs Group upped their price target on Macerich from $9.00 to $13.00 and gave the company a sell rating in a report on Thursday, January 11th. Finally, Citigroup raised Macerich from a sell rating to a neutral rating and increased their target price for the stock from $8.00 to $17.00 in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $14.40.

Macerich Trading Down 14.0 %

Macerich stock opened at $13.78 on Tuesday. The business has a 50 day moving average price of $16.31 and a two-hundred day moving average price of $14.61. 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 stock has a market cap of $2.97 billion, a price-to-earnings ratio of -10.85, a price-to-earnings-growth ratio of 1.76 and a beta of 2.33. Macerich has a 12 month low of $9.05 and a 12 month high of $17.69.

Macerich (NYSE:MAC) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.26). The firm had revenue of $238.70 million during the quarter, compared to analyst estimates of $224.49 million. Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the company earned $0.53 EPS. As a group, equities analysts forecast that Macerich will post 1.8 EPS for the current year.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued 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 4.94%. Macerich’s payout ratio is presently -53.54%.

Insider Activity at Macerich

In related news, Director Hern Thomas E. O sold 7,964 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $16.39, for a total transaction of $130,529.96. Following the completion of the sale, the director now directly owns 197,900 shares of the company’s stock, valued at approximately $3,243,581. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Macerich news, President Edward C. Coppola sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total value of $860,000.00. Following the completion of the transaction, the president now directly owns 655,667 shares of the company’s stock, valued at $11,277,472.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Hern Thomas E. O sold 7,964 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $16.39, for a total value of $130,529.96. Following the completion of the transaction, the director now directly owns 197,900 shares of the company’s stock, valued at $3,243,581. The disclosure for this sale can be found here. Insiders sold 172,964 shares of company stock valued at $2,940,030 in the last three months. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in shares of Macerich by 152.4% in the fourth quarter. Signaturefd LLC now owns 2,166 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,308 shares in the last quarter. Anchor Investment Management LLC bought a new stake in shares of Macerich in the fourth quarter valued at about $40,000. Quest Partners LLC bought a new stake in shares of Macerich in the fourth quarter valued at about $41,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Macerich in the third quarter valued at about $36,000. Finally, CWM LLC lifted its holdings in shares of Macerich by 51.0% in the third quarter. CWM LLC now owns 5,409 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 1,826 shares in the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

About Macerich

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.