The Macerich Company (NYSE:MAC) EVP Doug J. Healey Buys 7,500 Shares

The Macerich Company (NYSE:MAC) EVP Doug J. Healey bought 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was purchased at an average price of $15.20 per share, for a total transaction of $114,000.00. Following the acquisition, the executive vice president now owns 78,487 shares of the company’s stock, valued at $1,193,002.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Macerich Price Performance

Macerich stock traded up $0.36 during midday trading on Wednesday, reaching $15.61. 2,533,424 shares of the stock were exchanged, compared to its average volume of 2,015,160. The company’s fifty day moving average is $15.99 and its 200-day moving average is $14.75. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.95 and a current ratio of 1.03. The Macerich Company has a 52 week low of $9.05 and a 52 week high of $17.69. The firm has a market cap of $3.37 billion, a PE ratio of -9.77, a PEG ratio of 1.64 and a beta of 2.38.

Macerich (NYSE:MAC) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.26). The business had revenue of $238.70 million during the quarter, compared to analysts’ expectations of $224.49 million. Macerich had a negative return on equity of 13.42% and a negative net margin of 38.96%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. On average, sell-side analysts forecast that The Macerich Company will post 1.77 EPS for the current year.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Friday, May 17th. Macerich’s dividend payout ratio (DPR) is -43.59%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MAC. Piper Sandler lowered Macerich from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $17.00 to $11.00 in a report on Wednesday, May 1st. StockNews.com cut Macerich from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. The Goldman Sachs Group raised their price objective on Macerich from $9.00 to $13.00 and gave the company a “sell” rating in a research note on Thursday, January 11th. Citigroup raised shares of Macerich from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd. Finally, Mizuho lowered their target price on Macerich from $17.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.83.

Hedge Funds Weigh In On Macerich

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Y.D. More Investments Ltd raised its position in Macerich by 0.9% during the fourth quarter. Y.D. More Investments Ltd now owns 81,330 shares of the real estate investment trust’s stock valued at $1,255,000 after purchasing an additional 745 shares in the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of Macerich by 1.6% in the 1st quarter. SeaCrest Wealth Management LLC now owns 60,937 shares of the real estate investment trust’s stock valued at $1,050,000 after purchasing an additional 978 shares in the last quarter. Metis Global Partners LLC boosted its position in Macerich by 8.2% during the fourth quarter. Metis Global Partners LLC now owns 13,666 shares of the real estate investment trust’s stock valued at $211,000 after buying an additional 1,040 shares during the period. Van ECK Associates Corp increased its stake in shares of Macerich by 4.3% during the third quarter. Van ECK Associates Corp now owns 25,312 shares of the real estate investment trust’s stock valued at $276,000 after buying an additional 1,049 shares during the period. Finally, Swiss National Bank lifted its stake in Macerich by 0.3% in the first quarter. Swiss National Bank now owns 425,415 shares of the real estate investment trust’s stock worth $7,330,000 after acquiring an additional 1,200 shares during the period. Hedge funds and other institutional investors own 87.38% of the company’s stock.

About Macerich

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.