Macerich Co (NYSE:MAC) Director John H. Alschuler, Jr. acquired 8,417 shares of the stock in a transaction on Wednesday, February 12th. The shares were purchased at an average price of $23.68 per share, with a total value of $199,314.56. Following the completion of the transaction, the director now owns 18,924 shares of the company’s stock, valued at $448,120.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of NYSE:MAC opened at $22.84 on Friday. The company has a fifty day moving average of $24.92 and a 200-day moving average of $27.90. The company has a market capitalization of $3.23 billion, a PE ratio of 33.59, a price-to-earnings-growth ratio of 4.91 and a beta of 0.77. 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 52-week low of $22.25 and a 52-week high of $44.73.
Macerich (NYSE:MAC) last announced its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.79). The company had revenue of $241.84 million for the quarter, compared to analyst estimates of $226.97 million. Macerich had a return on equity of 3.28% and a net margin of 10.44%. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $1.09 earnings per share. On average, equities analysts forecast that Macerich Co will post 3.42 EPS for the current fiscal year.
Several brokerages have commented on MAC. Mizuho downgraded shares of Macerich from a “neutral” rating to an “underperform” rating and set a $24.00 price objective for the company. in a research report on Wednesday, January 15th. SunTrust Banks lowered their price objective on shares of Macerich from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. Jefferies Financial Group downgraded shares of Macerich from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $29.00 to $19.00 in a research report on Wednesday, January 15th. Piper Sandler downgraded shares of Macerich from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $26.00 to $20.00 in a research report on Wednesday. Finally, KeyCorp downgraded shares of Macerich from a “sector weight” rating to an “underweight” rating and set a $21.50 price objective for the company. in a research report on Tuesday, December 17th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $28.43.
Several large investors have recently made changes to their positions in MAC. IFP Advisors Inc increased its holdings in shares of Macerich by 591.0% during the fourth quarter. IFP Advisors Inc now owns 1,223 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 1,046 shares in the last quarter. BerganKDV Wealth Management LLC acquired a new position in shares of Macerich during the fourth quarter worth $35,000. Parallel Advisors LLC increased its holdings in shares of Macerich by 4,159.4% during the third quarter. Parallel Advisors LLC now owns 1,363 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 1,331 shares in the last quarter. West Bancorporation Inc. acquired a new position in shares of Macerich during the fourth quarter worth $60,000. Finally, Cornerstone Advisors Inc. increased its holdings in shares of Macerich by 91.9% during the third quarter. Cornerstone Advisors Inc. now owns 2,098 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 1,005 shares in the last quarter.
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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