StockNews.com Lowers Macerich (NYSE:MAC) to Sell

StockNews.com lowered shares of Macerich (NYSE:MAC) from a hold rating to a sell rating in a research report released on Tuesday.

Other equities research analysts have also recently issued research reports about the stock. Citigroup upgraded shares of Macerich from a sell rating to a neutral rating and raised their target price for the stock from $8.00 to $17.00 in a report on Friday, March 22nd. The Goldman Sachs Group lifted their price objective on Macerich from $9.00 to $13.00 and gave the stock a sell rating in a report on Thursday, January 11th. Finally, Truist Financial reiterated a hold rating and set a $16.00 price objective on shares of Macerich in a research report on Monday, March 25th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Macerich presently has an average rating of Hold and an average target price of $14.83.

Macerich Stock Up 3.6 %

Macerich stock traded up $0.49 during trading hours on Tuesday, hitting $14.30. The stock had a trading volume of 2,275,431 shares, compared to its average volume of 1,988,657. Macerich has a 12-month low of $9.05 and a 12-month high of $17.69. The stock has a market capitalization of $3.08 billion, a P/E ratio of -9.16, a price-to-earnings-growth ratio of 1.51 and a beta of 2.38. The stock’s 50-day moving average price is $16.09 and its 200-day moving average price is $14.62. The company has a quick ratio of 0.95, a current ratio of 1.03 and a debt-to-equity ratio of 1.85.

Macerich (NYSE:MAC) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.26). The business had revenue of $238.70 million for the quarter, compared to analysts’ expectations of $224.49 million. Macerich had a negative net margin of 38.96% and a negative return on equity of 13.42%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the business earned $0.53 earnings per share. Equities research analysts anticipate that Macerich will post 1.8 EPS for the current fiscal year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Friday, May 17th. Macerich’s payout ratio is -43.59%.

Insider Activity at Macerich

In related news, Director Hern Thomas E. O sold 7,964 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total value of $130,529.96. Following the completion of the sale, the director now directly owns 197,900 shares of the company’s stock, valued at approximately $3,243,581. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Hern Thomas E. O sold 7,964 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total value of $130,529.96. Following the completion of the transaction, the director now owns 197,900 shares of the company’s stock, valued at approximately $3,243,581. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Hern Thomas E. O sold 95,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $16.94, for a total value of $1,609,300.00. Following the sale, the director now directly owns 102,900 shares in the company, valued at $1,743,126. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,964 shares of company stock worth $2,940,030. 0.53% of the stock is owned by company insiders.

Institutional Trading of Macerich

A number of institutional investors and hedge funds have recently bought and sold shares of MAC. Signaturefd LLC raised its holdings in shares of Macerich by 152.4% during the 4th quarter. Signaturefd LLC now owns 2,166 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,308 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Macerich during the third quarter valued at $36,000. Anchor Investment Management LLC purchased a new position in shares of Macerich in the 4th quarter worth $40,000. Quest Partners LLC purchased a new position in shares of Macerich in the 4th quarter worth $41,000. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Macerich in the 1st quarter worth about $46,000. 87.38% of the stock is currently owned by institutional investors.

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.