The Macerich Company (NYSE:MAC – Get Rating) shares have received a consensus rating of “Hold” from the thirteen brokers currently covering the company, reports MarketBeat Ratings. Five analysts have rated the stock with a sell rating, four with a hold rating and three with a buy rating. The average 1-year target price among analysts who have covered the stock for the past year is $18.64.
MAC has been the subject of several research analyst reports. Truist Financial cut its target price on Macerich to $14.00 from $18.00 and gave the company a hold rating in a report Tuesday. Morgan Stanley lowered its price target on Macerich to $14.00 from $14.75 and listed the company as “underweight” in a report Monday, March 7th. Goldman Sachs Group has lowered its target price on Macerich to $12.00 from $13.50 and put the company on a sell rank in a report on Friday, May 20. Wells Fargo & Company lowered its price target on Macerich to $15.00 from $17.00 and the company in a report dated Thursday, March 7th. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Macerich to $23.00 from $27.00, $00 and rated the company a buy in a report dated Thursday, March 31.
Also on Monday, March 28, President Edward C. Coppola purchased 10,000 shares of the company’s stock in a transaction. The stock was acquired at an average price of $14.98 per share for a total value of $149,800.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed at this link. In addition, President Edward C. Coppola purchased 2,100 shares of the company’s stock in a transaction on Thursday, March 31. The shares were purchased at an average price of $15.90 per share for a total value of $33,390.00. Upon completion of the transaction, the President now owns 475,739 shares of the Company, valued at $7,564,250.10. The disclosure for this purchase can be found here. Over the past ninety days, insiders have purchased 77,100 shares of the company’s stock, valued at $831,640. 1.77% of the shares are currently owned by company insiders.
Several large investors have recently changed their positions in MAC. EverSource Wealth Advisors LLC increased its stake in Macerich by 450.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,619 shares of the real estate investment trust worth $25,000 after purchasing an additional 1,325 shares last quarter. Whittier Trust Co. increased its stake in Macerich by 201.1% in the first quarter. Whittier Trust Co. now owns 2,246 shares of the real estate investment trust, valued at $35,000, after purchasing an additional 1,500 shares last quarter. West Bancorporation Inc. acquired a new position in Macerich valued at $40,000 during the fourth quarter. Spire Wealth Management increased its stake in Macerich by 106.6% in the fourth quarter. Spire Wealth Management now owns 2,424 shares of the $42,000 Real Estate Investment Trust after purchasing an additional 1,251 shares last quarter. Finally, Compagnie Lombard Odier SCmA increased its stake in Macerich by 546.2% in Q4. Compagnie Lombard Odier SCmA now owns 4,200 shares in the $72,000 real estate mutual fund after buying an additional 3,550 shares last quarter. Institutional investors and hedge funds own 84.57% of the company’s shares.
NYSE:MAC opened at $8.94 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.44. Macerich has a 12-month low of $8.69 and a 12-month high of $22.88. The stock has a 50-day moving average price of $11.88 and a 200-day moving average price of $14.65. The stock has a market cap of $1.92 billion, a P/E of 44.70, a P/E of 1.09, and a beta of 1.88.
Macerich (NYSE:MAC – Get Rating) last released its earnings results on Monday, May 9th. The Real Estate Investment Trust reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.63). The company had revenue of $216.10 million for the quarter, compared to analysts’ expectations of $209.20 million. Macerich had a return on equity of 1.29% and a net margin of 4.66%. The company’s revenue for the quarter increased 13.5% compared to the same quarter last year. In the same quarter last year, the company posted $0.45 per share. On average, research analysts are predicting that Macerich will report earnings per share of 1.96 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 3rd. On Friday, May 20, investors of record were paid a dividend of $0.15 per share. That equates to a dividend of $0.60 on an annualized basis and a dividend yield of 6.71%. The ex-dividend date was Thursday May 19th. Macerich’s payout ratio is currently 300.00%.
About Macerich (received rating)
Macerich is a fully integrated, self-managed and self-managed real estate investment trust focused on acquiring, leasing, managing, developing and redeveloping regional shopping centers throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional malls.
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