Macerich Co (NYSE:MAC) President Edward C. Coppola purchased 10,000 shares of Macerich stock in a transaction on Wednesday, February 12th. The shares were acquired at an average cost of $23.30 per share, with a total value of $233,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NYSE:MAC opened at $22.84 on Friday. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.84 and a quick ratio of 0.78. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 4.91 and a beta of 0.77. The company has a 50 day moving average price of $24.92 and a 200-day moving average price of $27.90. Macerich Co has a 1-year low of $22.25 and a 1-year high of $44.73.
Macerich (NYSE:MAC) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.79). The firm had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $226.97 million. Macerich had a net margin of 10.44% and a return on equity of 3.28%. Macerich’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $1.09 earnings per share. On average, sell-side analysts anticipate that Macerich Co will post 3.42 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of MAC. Smead Capital Management Inc. purchased a new position in shares of Macerich during the 3rd quarter valued at approximately $61,752,000. Daiwa Securities Group Inc. grew its stake in Macerich by 20.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 4,770,872 shares of the real estate investment trust’s stock valued at $150,712,000 after acquiring an additional 816,924 shares during the period. Timbercreek Investment Management Inc. acquired a new stake in Macerich in the 3rd quarter valued at $20,289,000. State Street Corp grew its stake in Macerich by 5.9% in the 3rd quarter. State Street Corp now owns 9,257,683 shares of the real estate investment trust’s stock valued at $292,450,000 after acquiring an additional 515,016 shares during the period. Finally, Parametric Portfolio Associates LLC grew its stake in Macerich by 130.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 636,100 shares of the real estate investment trust’s stock valued at $20,094,000 after acquiring an additional 359,807 shares during the period.
A number of equities analysts have issued reports on MAC shares. KeyCorp lowered shares of Macerich from a “sector weight” rating to an “underweight” rating and set a $21.50 price target for the company. in a research report on Tuesday, December 17th. Jefferies Financial Group lowered shares of Macerich from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $29.00 to $19.00 in a research report on Wednesday, January 15th. SunTrust Banks reduced their price target on shares of Macerich from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, December 12th. BMO Capital Markets reissued a “sell” rating and set a $24.00 price target on shares of Macerich in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised shares of Macerich from an “underweight” rating to a “neutral” rating and reduced their price target for the stock from $40.00 to $34.00 in a research report on Wednesday, December 18th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $28.43.
Macerich Company Profile
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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