Andrea M. Stephen Sells 63,289 Shares of The Macerich Company (NYSE:MAC) Stock

The Macerich Company (NYSE:MAC) Director Andrea M. Stephen sold 63,289 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the sale, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Macerich Stock Down 0.2 %

MAC stock opened at $19.92 on Wednesday. The Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 51.08, a PEG ratio of 0.75 and a beta of 2.51. The business’s fifty day moving average price is $20.03 and its two-hundred day moving average price is $17.46.

Macerich (NYSE:MAC) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). The business had revenue of $220.20 million for the quarter, compared to the consensus estimate of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. Macerich’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 earnings per share. On average, equities analysts anticipate that The Macerich Company will post 1.56 earnings per share for the current year.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.41%. Macerich’s payout ratio is 174.36%.

Institutional Investors Weigh In On Macerich

Large investors have recently added to or reduced their stakes in the stock. Citigroup Inc. raised its holdings in Macerich by 32.3% in the 3rd quarter. Citigroup Inc. now owns 359,069 shares of the real estate investment trust’s stock valued at $6,549,000 after acquiring an additional 87,611 shares in the last quarter. Quest Partners LLC increased its position in shares of Macerich by 851.9% in the third quarter. Quest Partners LLC now owns 30,529 shares of the real estate investment trust’s stock worth $557,000 after purchasing an additional 27,322 shares during the period. Bamco Inc. NY raised its stake in Macerich by 742.3% in the third quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock valued at $30,924,000 after purchasing an additional 1,494,145 shares in the last quarter. Sei Investments Co. bought a new stake in Macerich during the second quarter worth about $10,625,000. Finally, Smead Capital Management Inc. grew its stake in Macerich by 3.5% during the third quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock worth $372,706,000 after buying an additional 688,790 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Scotiabank upgraded shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price objective on the stock in a research note on Tuesday, December 17th. The Goldman Sachs Group boosted their price target on Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research report on Thursday, September 19th. Compass Point raised their price objective on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Piper Sandler raised their price target on Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Macerich currently has an average rating of “Hold” and an average price target of $18.86.

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.