Macerich - MAC Stock Forecast, Price & News

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. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence in the West Coast, Arizona, Chicago and the Metro New York to Washington, DC corridor. A recognized leader in sustainability, Macerich has achieved the #1 GRESB ranking in the North American Retail Sector for five straight years (2015 - 2019).

Macerich Stock Up 3.2 %

NYSE:MAC traded up $0.36 on Friday, hitting $11.46. 79,966 shares of the company's stock were exchanged, compared to its average volume of 2,078,899. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.21 and a quick ratio of 1.27. The firm has a 50-day moving average price of $9.81 and a 200-day moving average price of $12.79. The company has a market cap of $2.46 billion, a P/E ratio of 62.72, a price-to-earnings-growth ratio of 1.35 and a beta of 1.97. Macerich has a 52 week low of $8.42 and a 52 week high of $22.88.

Macerich (NYSE:MAC - Get Rating) last posted its quarterly earnings results on Monday, May 9th. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.63). The firm had revenue of $216.10 million for the quarter, compared to analyst estimates of $209.20 million. Macerich had a return on equity of 1.18% and a net margin of 4.30%. The business's revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 EPS. As a group, analysts expect that Macerich will post 1.96 EPS for the current fiscal year.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Friday, August 19th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.24%. The ex-dividend date of this dividend is Thursday, August 18th. Macerich's payout ratio is currently 333.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Piper Sandler decreased their price target on shares of Macerich to $9.00 in a report on Monday, July 4th. The Goldman Sachs Group reduced their price objective on shares of Macerich from $13.50 to $12.00 and set a "sell" rating for the company in a report on Friday, May 20th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Macerich from $23.00 to $17.00 in a research note on Monday, July 18th. Truist Financial lowered their price target on shares of Macerich from $18.00 to $14.00 and set a "hold" rating for the company in a report on Tuesday, June 21st. Finally, Compass Point reduced their target price on shares of Macerich from $27.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, June 22nd. Seven research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Macerich presently has a consensus rating of "Hold" and an average price target of $15.41.

Insiders Place Their Bets

In related news, CEO Hern Thomas E. O purchased 25,000 shares of the business's stock in a transaction on Monday, June 13th. The stock was acquired at an average price of $9.49 per share, with a total value of $237,250.00. Following the purchase, the chief executive officer now directly owns 162,880 shares in the company, valued at $1,545,731.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, President Edward C. Coppola purchased 60,000 shares of the company's stock in a transaction dated Thursday, June 30th. The shares were purchased at an average price of $8.75 per share, with a total value of $525,000.00. Following the acquisition, the president now directly owns 575,739 shares in the company, valued at approximately $5,037,716.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Hern Thomas E. O acquired 25,000 shares of Macerich stock in a transaction dated Monday, June 13th. The shares were bought at an average price of $9.49 per share, for a total transaction of $237,250.00. Following the transaction, the chief executive officer now owns 162,880 shares of the company's stock, valued at $1,545,731.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 125,000 shares of company stock valued at $1,173,450. Company insiders own 1.77% of the company's stock.