Macerich Co (NYSE:MAC) CEO Hern Thomas E. O acquired 5,000 shares of Macerich stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of $39.69 per share, with a total value of $198,450.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Hern Thomas E. O also recently made the following trade(s):
- On Wednesday, May 8th, Hern Thomas E. O acquired 10,000 shares of Macerich stock. The stock was purchased at an average cost of $40.99 per share, with a total value of $409,900.00.
Shares of Macerich stock opened at $40.41 on Friday. The firm has a market cap of $5.87 billion, a P/E ratio of 10.50, a price-to-earnings-growth ratio of 6.44 and a beta of 0.83. Macerich Co has a 12 month low of $39.60 and a 12 month high of $60.95. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.90 and a current ratio of 0.90.
Macerich (NYSE:MAC) last issued its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.76). The business had revenue of $216.34 million for the quarter, compared to the consensus estimate of $206.88 million. Macerich had a return on equity of 3.75% and a net margin of 10.67%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share. Research analysts anticipate that Macerich Co will post 3.56 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Wednesday, May 8th will be issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, May 7th. This represents a $3.00 dividend on an annualized basis and a yield of 7.42%. Macerich’s dividend payout ratio (DPR) is currently 77.92%.
MAC has been the topic of a number of recent research reports. BMO Capital Markets restated a “buy” rating and issued a $56.00 target price on shares of Macerich in a report on Thursday, February 7th. Royal Bank of Canada restated a “hold” rating and issued a $46.00 target price on shares of Macerich in a report on Tuesday, February 26th. Jefferies Financial Group restated a “hold” rating and issued a $46.00 target price on shares of Macerich in a report on Wednesday, February 13th. Deutsche Bank dropped their target price on Macerich from $51.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, February 12th. Finally, Wells Fargo & Co lowered Macerich from an “outperform” rating to a “market perform” rating and set a $43.00 target price on the stock. in a report on Friday, February 8th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Macerich has an average rating of “Hold” and an average target price of $54.00.
Institutional investors have recently modified their holdings of the stock. Liberty Wealth Management LLC bought a new stake in Macerich during the fourth quarter worth $39,000. CSat Investment Advisory L.P. lifted its holdings in Macerich by 63.1% during the fourth quarter. CSat Investment Advisory L.P. now owns 1,024 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 396 shares during the period. Fifth Third Bancorp lifted its holdings in Macerich by 40.4% during the first quarter. Fifth Third Bancorp now owns 1,323 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 381 shares during the period. Pearl River Capital LLC bought a new stake in Macerich during the first quarter worth $62,000. Finally, Meeder Asset Management Inc. lifted its holdings in Macerich by 1,480.2% during the fourth quarter. Meeder Asset Management Inc. now owns 1,754 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 1,643 shares during the period. Institutional investors and hedge funds own 96.24% of the company’s stock.
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Macerich, an S&P 500 company, 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.
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