Edward C. Coppola Purchases 10,000 Shares of Macerich Co (NYSE:MAC) Stock

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Macerich Co (NYSE:MAC) President Edward C. Coppola purchased 10,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were acquired at an average price of $23.30 per share, for a total transaction of $233,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

MAC stock opened at $22.84 on Friday. The company’s 50 day moving average price is $24.92 and its 200 day moving average price is $27.90. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.78 and a current ratio of 0.84. Macerich Co has a fifty-two week low of $22.25 and a fifty-two week high of $44.73. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 4.91 and a beta of 0.77.

Macerich (NYSE:MAC) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.79). Macerich had a return on equity of 3.28% and a net margin of 10.44%. The firm had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $226.97 million. During the same quarter in the previous year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts forecast that Macerich Co will post 3.42 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Friday, February 21st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 13.13%. The ex-dividend date of this dividend is Thursday, February 20th. Macerich’s dividend payout ratio (DPR) is 84.75%.

A number of analysts have issued reports on MAC shares. ValuEngine upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. KeyCorp lowered shares of Macerich from a “sector weight” rating to an “underweight” rating and set a $21.50 target price on the stock. in a research note on Tuesday, December 17th. Jefferies Financial Group lowered shares of Macerich from a “hold” rating to an “underperform” rating and cut their target price for the stock from $29.00 to $19.00 in a research note on Wednesday, January 15th. Evercore ISI restated a “buy” rating and set a $30.00 target price on shares of Macerich in a research note on Sunday, February 9th. Finally, Piper Sandler lowered shares of Macerich from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $26.00 to $20.00 in a research note on Wednesday. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $28.43.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Macerich by 1.1% in the second quarter. BlackRock Inc. now owns 11,691,318 shares of the real estate investment trust’s stock valued at $391,543,000 after purchasing an additional 123,293 shares in the last quarter. State Street Corp boosted its holdings in Macerich by 5.9% in the third quarter. State Street Corp now owns 9,257,683 shares of the real estate investment trust’s stock valued at $292,450,000 after purchasing an additional 515,016 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Macerich by 5.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,039,806 shares of the real estate investment trust’s stock valued at $135,672,000 after purchasing an additional 268,934 shares in the last quarter. Smead Capital Management Inc. boosted its holdings in Macerich by 18.7% in the fourth quarter. Smead Capital Management Inc. now owns 2,321,240 shares of the real estate investment trust’s stock valued at $62,488,000 after purchasing an additional 366,432 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Macerich by 14.0% in the fourth quarter. Bank of New York Mellon Corp now owns 2,107,679 shares of the real estate investment trust’s stock valued at $56,738,000 after purchasing an additional 259,643 shares in the last quarter.

Macerich Company Profile

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.

Read More: Asset Allocation, Balancing Your Investments

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

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