Insider Buying: The Macerich Company (NYSE:MAC) CEO Acquires $99,567.00 in Stock

The Macerich Company (NYSE:MACGet Rating) CEO Hern Thomas E. O bought 11,100 shares of the stock in a transaction dated Friday, September 16th. The shares were acquired at an average price of $8.97 per share, for a total transaction of $99,567.00. Following the completion of the purchase, the chief executive officer now directly owns 173,980 shares in the company, valued at $1,560,600.60. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Macerich Stock Performance

Macerich stock opened at $8.15 on Friday. The firm’s 50 day simple moving average is $10.04 and its 200 day simple moving average is $11.53. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $1.75 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 1.56 and a beta of 1.96. The Macerich Company has a 1-year low of $8.11 and a 1-year high of $22.88.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Friday, August 19th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 7.36%. The ex-dividend date was Thursday, August 18th. Macerich’s dividend payout ratio (DPR) is presently 333.33%.

Institutional Trading of Macerich

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in Macerich by 450.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,619 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 1,325 shares during the period. Whittier Trust Co. grew its stake in Macerich by 201.1% in the 1st 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 in the last quarter. Point72 Hong Kong Ltd purchased a new position in Macerich in the 2nd quarter worth approximately $29,000. Caption Management LLC purchased a new position in Macerich in the 2nd quarter worth approximately $61,000. Finally, Tompkins Financial Corp purchased a new position in Macerich in the 1st quarter worth approximately $110,000. Institutional investors own 83.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Macerich from $23.00 to $17.00 in a research note on Monday, July 18th. Piper Sandler reduced their target price on shares of Macerich to $9.00 in a research note on Monday, July 4th. Jefferies Financial Group lowered their price target on shares of Macerich from $15.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, June 30th. Truist Financial lowered their price target on shares of Macerich from $18.00 to $14.00 and set a “hold” rating on the stock in a research report on Tuesday, June 21st. Finally, Compass Point lowered their price target on shares of Macerich from $27.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, June 22nd. Seven investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Macerich currently has an average rating of “Hold” and an average target price of $13.45.

About Macerich

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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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