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 4.3 %

Shares of Macerich stock traded up $0.46 during trading on Wednesday, reaching $11.04. The company had a trading volume of 1,464,683 shares, compared to its average volume of 2,963,434. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 61.33, a price-to-earnings-growth ratio of 1.27 and a beta of 1.98. Macerich has a fifty-two week low of $8.42 and a fifty-two week high of $22.88. The firm's fifty day moving average is $9.83 and its 200-day moving average is $12.83. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.27 and a current ratio of 1.21.

Macerich (NYSE:MAC - Get Rating) last announced its quarterly earnings data 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 net margin of 4.30% and a return on equity of 1.18%. The company's quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 EPS. On average, analysts anticipate that Macerich will post 1.96 EPS for the current year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Friday, August 19th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 5.43%. The ex-dividend date is Thursday, August 18th. Macerich's dividend payout ratio (DPR) is presently 333.33%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley lowered their price target on Macerich from $11.25 to $8.50 and set an "underweight" rating for the company in a report on Thursday, July 7th. StockNews.com downgraded Macerich from a "hold" rating to a "sell" rating in a report on Wednesday, August 3rd. Mizuho decreased their price target on Macerich from $18.00 to $10.00 and set an "underperform" rating for the company in a report on Wednesday, August 3rd. Piper Sandler dropped their price objective on shares of Macerich to $9.00 in a research note on Monday, July 4th. Finally, Jefferies Financial Group decreased their target price on shares of Macerich from $15.00 to $9.00 and set a "hold" rating for the company in a research note on Thursday, June 30th. Seven analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Macerich currently has an average rating of "Hold" and an average price target of $15.41.

Insiders Place Their Bets

In other Macerich news, President Edward C. Coppola bought 40,000 shares of the company's stock in a transaction on Friday, June 10th. The shares were bought at an average cost of $10.28 per share, with a total value of $411,200.00. Following the completion of the acquisition, the president now owns 515,739 shares of the company's stock, valued at $5,301,796.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Edward C. Coppola bought 40,000 shares of the stock in a transaction dated Friday, June 10th. The stock was bought at an average cost of $10.28 per share, with a total value of $411,200.00. Following the completion of the acquisition, the president now owns 515,739 shares of the company's stock, valued at $5,301,796.92. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Hern Thomas E. O purchased 25,000 shares of the business's stock in a transaction that occurred on Monday, June 13th. The stock was bought at an average cost of $9.49 per share, for a total transaction of $237,250.00. Following the acquisition, the chief executive officer now owns 162,880 shares in the company, valued at approximately $1,545,731.20. The disclosure for this purchase can be found here. Insiders acquired a total of 125,000 shares of company stock valued at $1,173,450 over the last 90 days. 1.77% of the stock is owned by company insiders.