Ann C. Menard Buys 4,865 Shares of The Macerich Company (NYSE:MAC) Stock

The Macerich Company (NYSE:MAC - Get Free Report) insider Ann C. Menard bought 4,865 shares of the stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average price of $15.40 per share, with a total value of $74,921.00. Following the completion of the purchase, the insider now owns 20,633 shares of the company's stock, valued at approximately $317,748.20. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Macerich Stock Up 3.9 %

Shares of NYSE:MAC traded up $0.59 during trading on Wednesday, hitting $15.84. 4,300,174 shares of the company's stock traded hands, compared to its average volume of 2,039,245. The Macerich Company has a 52 week low of $9.05 and a 52 week high of $17.69. The company has a current ratio of 1.03, a quick ratio of 0.95 and a debt-to-equity ratio of 1.85. The company has a market cap of $3.42 billion, a price-to-earnings ratio of -9.77, a price-to-earnings-growth ratio of 1.64 and a beta of 2.38. The company has a 50-day moving average price of $15.99 and a 200-day moving average price of $14.75.

Macerich (NYSE:MAC - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.26). Macerich had a negative net margin of 38.96% and a negative return on equity of 13.42%. The business had revenue of $238.70 million for the quarter, compared to the consensus estimate of $224.49 million. During the same quarter last year, the firm earned $0.53 EPS. The company's revenue for the quarter was up 4.6% on a year-over-year basis. As a group, research analysts forecast that The Macerich Company will post 1.77 EPS for the current fiscal year.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Friday, May 17th. Macerich's dividend payout ratio (DPR) is presently -43.59%.

Analysts Set New Price Targets

MAC has been the subject of a number of research reports. Piper Sandler lowered Macerich from a "neutral" rating to an "underweight" rating and lowered their target price for the company from $17.00 to $11.00 in a research note on Wednesday, May 1st. Citigroup upgraded Macerich from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd. StockNews.com lowered Macerich from a "hold" rating to a "sell" rating in a research report on Tuesday, April 30th. Compass Point lowered their price objective on Macerich from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, May 1st. Finally, Mizuho reduced their target price on Macerich from $17.00 to $14.00 and set an "underperform" rating on the stock in a report on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $14.83.

Hedge Funds Weigh In On Macerich

Institutional investors have recently modified their holdings of the business. Y.D. More Investments Ltd lifted its stake in Macerich by 0.9% in the 4th 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 acquiring an additional 745 shares in the last quarter. SeaCrest Wealth Management LLC lifted its stake in 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 acquiring an additional 978 shares in the last quarter. Metis Global Partners LLC lifted its stake in Macerich by 8.2% in the 4th quarter. Metis Global Partners LLC now owns 13,666 shares of the real estate investment trust's stock valued at $211,000 after acquiring an additional 1,040 shares in the last quarter. Van ECK Associates Corp lifted its stake in Macerich by 4.3% in the 3rd quarter. Van ECK Associates Corp now owns 25,312 shares of the real estate investment trust's stock valued at $276,000 after acquiring an additional 1,049 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Macerich by 0.3% in the 1st quarter. Swiss National Bank now owns 425,415 shares of the real estate investment trust's stock valued at $7,330,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors own 87.38% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.