The Macerich Company (NYSE:MAC) CEO Jackson Hsieh Acquires 140,000 Shares

The Macerich Company (NYSE:MAC) CEO Jackson Hsieh acquired 140,000 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was acquired at an average price of $14.26 per share, for a total transaction of $1,996,400.00. Following the acquisition, the chief executive officer now owns 170,500 shares in the company, valued at approximately $2,431,330. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Macerich Stock Performance

NYSE MAC opened at $14.68 on Tuesday. The Macerich Company has a 52-week low of $9.05 and a 52-week high of $17.69. The business’s 50-day moving average price is $16.01 and its 200 day moving average price is $14.72. The company has a quick ratio of 0.95, a current ratio of 1.03 and a debt-to-equity ratio of 1.85. The firm has a market cap of $3.17 billion, a P/E ratio of -9.41, a P/E/G ratio of 1.64 and a beta of 2.38.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.26). Macerich had a negative net margin of 38.96% and a negative return on equity of 13.42%. The firm had revenue of $238.70 million during the quarter, compared to analyst estimates of $224.49 million. During the same quarter in the previous year, the business earned $0.53 EPS. Macerich’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts expect that The Macerich Company will post 1.77 earnings per share for the current year.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Friday, May 17th. Macerich’s dividend payout ratio is presently -43.59%.

Analyst Upgrades and Downgrades

MAC has been the topic of a number of recent analyst reports. Truist Financial reaffirmed a “hold” rating and issued a $16.00 target price on shares of Macerich in a research report on Monday, March 25th. Mizuho dropped their price objective on Macerich from $17.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group boosted their target price on Macerich from $9.00 to $13.00 and gave the company a “sell” rating in a report on Thursday, January 11th. Piper Sandler downgraded Macerich from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $17.00 to $11.00 in a research note on Wednesday, May 1st. Finally, Compass Point reduced their price objective on Macerich from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Four analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.83.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Raymond James & Associates increased its holdings in shares of Macerich by 36.5% in the 3rd quarter. Raymond James & Associates now owns 24,651 shares of the real estate investment trust’s stock valued at $269,000 after purchasing an additional 6,588 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Macerich by 6.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,539 shares of the real estate investment trust’s stock valued at $900,000 after acquiring an additional 5,301 shares during the period. Advisor Partners II LLC boosted its stake in shares of Macerich by 32.8% during the 3rd quarter. Advisor Partners II LLC now owns 13,547 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 3,346 shares in the last quarter. Inspire Investing LLC acquired a new stake in shares of Macerich in the 3rd quarter worth approximately $306,000. Finally, Assetmark Inc. purchased a new position in Macerich in the 3rd quarter valued at approximately $342,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Company Profile

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.