Macerich Co (NYSE:MAC) Director John H. Alschuler, Jr. purchased 8,417 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was purchased at an average cost of $23.68 per share, for a total transaction of $199,314.56. Following the purchase, the director now directly owns 18,924 shares in the company, valued at $448,120.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
NYSE:MAC opened at $22.84 on Friday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.78 and a current ratio of 0.84. The stock’s 50-day simple moving average is $24.92 and its 200 day simple moving average is $27.90. The company has a market cap of $3.23 billion, a P/E ratio of 33.59, a P/E/G ratio of 4.91 and a beta of 0.77. Macerich Co has a 52-week low of $22.25 and a 52-week high of $44.73.
Macerich (NYSE:MAC) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.79). Macerich had a return on equity of 3.28% and a net margin of 10.44%. The business had revenue of $241.84 million for the quarter, compared to the consensus estimate of $226.97 million. During the same quarter in the previous year, the business posted $1.09 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts predict that Macerich Co will post 3.42 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Friday, February 21st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 13.13%. The ex-dividend date is Thursday, February 20th. Macerich’s payout ratio is currently 84.75%.
Institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc grew its holdings in Macerich by 591.0% during the fourth quarter. IFP Advisors Inc now owns 1,223 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,046 shares during the period. BerganKDV Wealth Management LLC bought a new position in Macerich during the fourth quarter worth about $35,000. Parallel Advisors LLC grew its holdings in Macerich by 4,159.4% during the third quarter. Parallel Advisors LLC now owns 1,363 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 1,331 shares during the period. West Bancorporation Inc. bought a new position in Macerich during the fourth quarter worth about $60,000. Finally, Cornerstone Advisors Inc. grew its holdings in Macerich by 91.9% during the third quarter. Cornerstone Advisors Inc. now owns 2,098 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 1,005 shares during the period.
MAC has been the topic of a number of recent research reports. Mizuho downgraded Macerich from a “neutral” rating to an “underperform” rating and set a $24.00 target price on the stock. in a research report on Wednesday, January 15th. ValuEngine raised Macerich from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Evercore ISI reaffirmed a “buy” rating and issued a $30.00 target price on shares of Macerich in a research report on Sunday, February 9th. Jefferies Financial Group downgraded Macerich from a “hold” rating to an “underperform” rating and lowered their target price for the company from $29.00 to $19.00 in a research report on Wednesday, January 15th. Finally, BMO Capital Markets reaffirmed a “sell” rating and issued a $24.00 target price on shares of Macerich in a research report on Tuesday. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $28.43.
Macerich, an S&P 500 company, is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.
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