The Macerich Company (NYSE:MAC) CAO Sells $17,480.00 in Stock

The Macerich Company (NYSE:MACGet Rating) CAO Christopher J. Zecchini sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $8.74, for a total value of $17,480.00. Following the completion of the sale, the chief accounting officer now directly owns 9,458 shares in the company, valued at approximately $82,662.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Macerich Trading Down 7.2 %

NYSE:MAC opened at $8.15 on Friday. The Macerich Company has a 1-year low of $8.11 and a 1-year high of $22.88. The business’s 50-day moving average price is $10.04 and its two-hundred day moving average price is $11.53. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 45.28, a PEG ratio of 1.56 and a beta of 1.96.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Friday, August 19th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.36%. Macerich’s payout ratio is presently 333.33%.

Analyst Ratings Changes

MAC has been the topic of several recent research reports. Jefferies Financial Group decreased their price objective on Macerich from $15.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, June 30th. Mizuho decreased their price objective on Macerich from $18.00 to $10.00 and set an “underperform” rating on the stock in a report on Wednesday, August 3rd. Compass Point decreased their price objective on Macerich from $27.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, June 22nd. Truist Financial decreased their price objective on Macerich from $18.00 to $14.00 and set a “hold” rating on the stock in a report on Tuesday, June 21st. Finally, Piper Sandler lowered their price target on Macerich to $9.00 in a research report on Monday, July 4th. Seven analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Macerich currently has a consensus rating of “Hold” and a consensus target price of $13.45.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MAC. Raymond James & Associates acquired a new stake in shares of Macerich in the fourth quarter valued at approximately $193,000. Teacher Retirement System of Texas increased its stake in shares of Macerich by 25.4% in the 4th quarter. Teacher Retirement System of Texas now owns 41,235 shares of the real estate investment trust’s stock valued at $713,000 after purchasing an additional 8,345 shares during the last quarter. Pictet Asset Management SA increased its stake in shares of Macerich by 1.7% in the 4th quarter. Pictet Asset Management SA now owns 82,612 shares of the real estate investment trust’s stock valued at $1,428,000 after purchasing an additional 1,404 shares during the last quarter. Rhumbline Advisers grew its position in Macerich by 0.7% during the 4th quarter. Rhumbline Advisers now owns 752,936 shares of the real estate investment trust’s stock worth $13,011,000 after acquiring an additional 5,512 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Macerich by 2,715.9% during the 4th quarter. Bank of Montreal Can now owns 1,881,497 shares of the real estate investment trust’s stock worth $33,002,000 after acquiring an additional 1,814,679 shares during the last quarter. 83.33% of the stock is owned by institutional investors and hedge funds.

Macerich Company Profile

(Get Rating)

Macerich 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.

Further Reading

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

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