The Macerich Company (NYSE:MAC) Insider Ann C. Menard Acquires 4,865 Shares

The Macerich Company (NYSE:MAC) insider Ann C. Menard acquired 4,865 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average cost of $15.40 per share, for a total transaction of $74,921.00. Following the purchase, the insider now directly owns 20,633 shares in the company, valued at approximately $317,748.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Macerich Trading Up 3.9 %

Shares of NYSE MAC opened at $15.84 on Thursday. 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 Macerich Company has a one year low of $9.05 and a one year high of $17.69. The business has a 50-day moving average price of $15.97 and a two-hundred day moving average price of $14.76. The firm has a market capitalization of $3.42 billion, a PE ratio of -10.15, a PEG ratio of 1.64 and a beta of 2.38.

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 company had revenue of $238.70 million for the quarter, compared to analyst estimates of $224.49 million. Macerich had a negative return on equity of 13.42% and a negative net margin of 38.96%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 earnings per share. As a group, analysts predict that The Macerich Company will post 1.77 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The business also recently declared 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 is Friday, May 17th. Macerich’s dividend payout ratio is currently -43.59%.

Analyst Upgrades and Downgrades

MAC has been the subject of a number of research analyst reports. Piper Sandler downgraded shares of Macerich from a “neutral” rating to an “underweight” rating and cut their price target for the company from $17.00 to $11.00 in a report on Wednesday, May 1st. Compass Point decreased their price target on shares of Macerich from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Mizuho cut their price objective on Macerich from $17.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, May 1st. Citigroup upgraded 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. Finally, The Goldman Sachs Group upped their target price on Macerich from $9.00 to $13.00 and gave the company a “sell” rating in a report on Thursday, January 11th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Macerich presently has a consensus rating of “Hold” and an average price target of $14.83.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Macerich by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 34,478,278 shares of the real estate investment trust’s stock worth $532,000,000 after purchasing an additional 336,251 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Macerich by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,654,465 shares of the real estate investment trust’s stock worth $71,818,000 after purchasing an additional 165,649 shares in the last quarter. Kennedy Capital Management LLC increased its position in Macerich by 0.9% during the third quarter. Kennedy Capital Management LLC now owns 1,540,033 shares of the real estate investment trust’s stock worth $16,802,000 after buying an additional 14,131 shares during the last quarter. Norges Bank bought a new position in Macerich during the fourth quarter valued at about $22,210,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Macerich in the fourth quarter worth about $18,938,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

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.