Macerich (NYSE:MAC) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Macerich (NYSE:MAC) from a hold rating to a sell rating in a research report released on Tuesday morning.

A number of other brokerages have also recently weighed in on MAC. Citigroup upgraded shares of Macerich from a sell rating to a neutral rating and upped their price objective for the stock from $8.00 to $17.00 in a report on Friday, March 22nd. The Goldman Sachs Group increased their price target on shares of Macerich from $9.00 to $13.00 and gave the company a sell rating in a report on Thursday, January 11th. Finally, Truist Financial reiterated a hold rating and set a $16.00 price target on shares of Macerich in a report on Monday, March 25th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Macerich currently has an average rating of Hold and a consensus price target of $14.83.

Macerich Price Performance

Shares of MAC opened at $14.30 on Tuesday. The stock has a market cap of $3.08 billion, a PE ratio of -9.16, a price-to-earnings-growth ratio of 1.51 and a beta of 2.38. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.95 and a current ratio of 1.03. Macerich has a fifty-two week low of $9.05 and a fifty-two week high of $17.69. The firm’s 50-day simple moving average is $16.05 and its two-hundred day simple moving average is $14.64.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.26). The business had revenue of $238.70 million during the quarter, compared to analysts’ expectations of $224.49 million. Macerich had a negative return on equity of 13.42% and a negative net margin of 38.96%. Macerich’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS. Analysts anticipate that Macerich will post 1.8 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.76%. The ex-dividend date is Friday, May 17th. Macerich’s dividend payout ratio is currently -43.59%.

Insider Buying and Selling

In related news, President Edward C. Coppola sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total value of $860,000.00. Following the sale, the president now owns 655,667 shares in the company, valued at $11,277,472.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Edward C. Coppola sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total value of $860,000.00. Following the sale, the president now owns 655,667 shares in the company, valued at $11,277,472.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hern Thomas E. O sold 7,964 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $16.39, for a total transaction of $130,529.96. Following the completion of the sale, the director now owns 197,900 shares in the company, valued at approximately $3,243,581. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,964 shares of company stock worth $2,940,030. 0.53% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MAC. Signaturefd LLC raised its position in Macerich by 152.4% in the fourth quarter. Signaturefd LLC now owns 2,166 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,308 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Macerich in the third quarter worth approximately $36,000. Anchor Investment Management LLC bought a new position in Macerich in the fourth quarter worth approximately $40,000. Quest Partners LLC bought a new position in Macerich in the fourth quarter worth approximately $41,000. Finally, Fidelis Capital Partners LLC bought a new position in Macerich in the first quarter worth approximately $46,000. 87.38% of the stock is currently owned by institutional investors.

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.