Macerich Co (NYSE:MAC) EVP Kenneth Volk bought 10,000 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were acquired at an average price of $7.99 per share, with a total value of $79,900.00. Following the purchase, the executive vice president now directly owns 8,992 shares of the company’s stock, valued at approximately $71,846.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of MAC opened at $6.90 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.88. The stock’s 50 day moving average is $18.03 and its two-hundred day moving average is $25.20. Macerich Co has a twelve month low of $5.51 and a twelve month high of $44.73. The firm has a market capitalization of $1.09 billion, a PE ratio of 10.15 and a beta of 0.76.
Macerich (NYSE:MAC) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.79). Macerich had a return on equity of 3.28% and a net margin of 10.44%. The business had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $226.97 million. During the same period last year, the company posted $1.09 earnings per share. The business’s quarterly revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts predict that Macerich Co will post 3.34 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Wednesday, April 22nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 28.99%. The ex-dividend date is Tuesday, April 21st. Macerich’s payout ratio is 84.75%.
Several equities analysts recently issued reports on MAC shares. Mizuho cut Macerich from a “neutral” rating to an “underperform” rating and set a $24.00 price target on the stock. in a research report on Wednesday, January 15th. TheStreet upgraded Macerich from a “d+” rating to a “c” rating in a research note on Monday, December 9th. SunTrust Banks lowered their target price on Macerich from $30.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, December 12th. Morgan Stanley raised Macerich from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $21.75 to $18.00 in a report on Monday, March 2nd. Finally, Evercore ISI restated a “buy” rating and set a $30.00 price target on shares of Macerich in a research note on Sunday, February 9th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $26.42.
A number of institutional investors have recently added to or reduced their stakes in MAC. Sunbelt Securities Inc. purchased a new stake in shares of Macerich during the 4th quarter worth $7,430,000. IFP Advisors Inc increased its holdings in shares of Macerich by 591.0% in the 4th quarter. IFP Advisors Inc now owns 1,223 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 1,046 shares in the last quarter. BerganKDV Wealth Management LLC purchased a new position in shares of Macerich in the 4th quarter valued at about $35,000. West Bancorporation Inc. acquired a new stake in shares of Macerich in the fourth quarter valued at about $60,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Macerich by 69.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,476 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 1,429 shares during the period.
Macerich, an S&P 500 company, 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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