The Macerich Company (NYSE:MAC) CEO Acquires $99,789.00 in Stock

The Macerich Company (NYSE:MACGet Rating) CEO Hern Thomas E. O bought 11,100 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was bought at an average price of $8.99 per share, for a total transaction of $99,789.00. Following the purchase, the chief executive officer now owns 185,080 shares in the company, valued at approximately $1,663,869.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Macerich Price Performance

Shares of NYSE:MAC opened at $8.15 on Friday. The firm’s 50 day moving average is $10.04 and its two-hundred day moving average is $11.53. The Macerich Company has a 52 week low of $8.11 and a 52 week high of $22.88. The firm has a market capitalization of $1.75 billion, a P/E ratio of 45.28, a PEG ratio of 1.56 and a beta of 1.96. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.45.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Friday, August 19th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.60 annualized dividend and a dividend yield of 7.36%. Macerich’s payout ratio is currently 333.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MAC. Morgan Stanley cut their target price on shares of Macerich from $11.25 to $8.50 and set an “underweight” rating on the stock in a research note on Thursday, July 7th. Jefferies Financial Group dropped their price objective on shares of Macerich from $15.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Mizuho dropped their price objective on shares of Macerich from $18.00 to $10.00 and set an “underperform” rating on the stock in a research note on Wednesday, August 3rd. Finally, Compass Point dropped their price objective on shares of Macerich from $27.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, June 22nd. Seven research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $13.45.

Institutional Investors Weigh In On Macerich

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in shares of Macerich by 450.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,619 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 1,325 shares during the period. Whittier Trust Co. boosted its holdings in shares of Macerich by 201.1% in the first quarter. Whittier Trust Co. now owns 2,246 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 1,500 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Macerich in the second quarter valued at approximately $29,000. Caption Management LLC bought a new position in shares of Macerich in the second quarter valued at approximately $61,000. Finally, Tompkins Financial Corp bought a new position in shares of Macerich in the first quarter valued at approximately $110,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

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.

Recommended Stories

Insider Buying and Selling by Quarter for Macerich (NYSE:MAC)

Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with MarketBeat.com's FREE daily email newsletter.