The Macerich Company (NYSE:MAC) Given Average Rating of “Hold” by Brokerages

The Macerich Company (NYSE:MACGet Rating) has been given an average rating of “Hold” by the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $18.64.

MAC has been the topic of a number of research reports. Morgan Stanley decreased their price target on Macerich from $14.75 to $14.00 and set an “underweight” rating on the stock in a research note on Monday, March 7th. Wells Fargo & Company decreased their price target on Macerich from $17.00 to $15.00 and set an “underweight” rating on the stock in a research note on Thursday, April 7th. Compass Point decreased their price target on Macerich from $27.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial decreased their price target on Macerich from $18.00 to $14.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Macerich from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, March 31st.

In other news, President Edward C. Coppola acquired 2,100 shares of the company’s stock in a transaction on Thursday, March 31st. The shares were bought at an average price of $15.90 per share, with a total value of $33,390.00. Following the completion of the acquisition, the president now owns 475,739 shares in the company, valued at approximately $7,564,250.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hern Thomas E. O acquired 25,000 shares of the company’s stock in a transaction on Monday, June 13th. The shares were purchased at an average cost of $9.49 per share, for a total transaction of $237,250.00. Following the acquisition, the chief executive officer now owns 162,880 shares of the company’s stock, valued at approximately $1,545,731.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 77,100 shares of company stock worth $831,640. 1.77% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its holdings in shares of Macerich by 450.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,619 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 1,325 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of Macerich by 201.1% during the first quarter. Whittier Trust Co. now owns 2,246 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 1,500 shares during the last quarter. West Bancorporation Inc. purchased a new position in shares of Macerich during the fourth quarter worth about $40,000. Spire Wealth Management grew its holdings in shares of Macerich by 106.6% during the fourth quarter. Spire Wealth Management now owns 2,424 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 1,251 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA grew its holdings in shares of Macerich by 546.2% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 4,200 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 3,550 shares during the last quarter. 84.57% of the stock is currently owned by institutional investors.

Shares of Macerich stock opened at $8.94 on Friday. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 44.70, a PEG ratio of 1.09 and a beta of 1.88. Macerich has a fifty-two week low of $8.69 and a fifty-two week high of $22.88. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a 50 day moving average of $11.88 and a 200 day moving average of $14.65.

Macerich (NYSE:MACGet Rating) last issued its quarterly earnings data on Monday, May 9th. The real estate investment trust reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.63). The business had revenue of $216.10 million during 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 was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share. Analysts forecast that Macerich will post 1.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 3rd. Shareholders of record on Friday, May 20th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date was Thursday, May 19th. Macerich’s dividend payout ratio is presently 300.00%.

Macerich Company Profile (Get Rating)

Macerich 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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