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

The Macerich Company (NYSE:MACGet Free Report) insider Ann C. Menard bought 4,865 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were purchased at an average cost of $15.40 per share, for a total transaction of $74,921.00. Following the completion of the acquisition, the insider now owns 20,633 shares of the company’s stock, valued at $317,748.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Macerich Trading Down 2.3 %

NYSE:MAC opened at $15.48 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.03 and a debt-to-equity ratio of 1.85. The Macerich Company has a 1-year low of $9.05 and a 1-year high of $17.69. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of -9.92, a price-to-earnings-growth ratio of 1.64 and a beta of 2.38. The stock has a fifty day simple moving average of $15.96 and a 200 day simple moving average of $14.77.

Macerich (NYSE:MACGet Free Report) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $238.70 million during the quarter, compared to analyst estimates of $224.49 million. During the same quarter last year, the business earned $0.53 EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts forecast that The Macerich Company will post 1.77 earnings per share for the current year.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, May 17th. This represents a $0.68 dividend on an annualized basis and a yield of 4.39%. Macerich’s payout ratio is presently -43.59%.

Institutional Investors Weigh In On Macerich

A number of institutional investors have recently bought and sold shares of MAC. International Assets Investment Management LLC lifted its holdings in shares of Macerich by 1,460.3% during the 4th quarter. International Assets Investment Management LLC now owns 324,502 shares of the real estate investment trust’s stock valued at $5,007,000 after buying an additional 303,704 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Macerich by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,488,816 shares of the real estate investment trust’s stock valued at $48,973,000 after buying an additional 31,445 shares during the last quarter. Barclays PLC lifted its holdings in shares of Macerich by 91.0% during the 3rd quarter. Barclays PLC now owns 221,834 shares of the real estate investment trust’s stock valued at $2,421,000 after buying an additional 105,663 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Macerich by 15.3% during the 3rd quarter. Invesco Ltd. now owns 579,573 shares of the real estate investment trust’s stock valued at $6,323,000 after buying an additional 76,888 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Macerich by 13.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 69,900 shares of the real estate investment trust’s stock valued at $763,000 after buying an additional 8,145 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MAC has been the topic of a number of research analyst reports. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. Compass Point lowered their target price on Macerich from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Citigroup raised Macerich from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $8.00 to $17.00 in a report on Friday, March 22nd. Piper Sandler lowered Macerich from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $17.00 to $11.00 in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group lifted their target price on Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. Four analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Macerich has a consensus rating of “Hold” and an average target price of $14.83.

Check Out Our Latest Research Report on MAC

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.

See Also

Insider Buying and Selling by Quarter for Macerich (NYSE:MAC)

Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with MarketBeat.com's FREE daily email newsletter.