Macerich Co (NYSE:MAC) Director Steve Hash purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were acquired at an average price of $29.37 per share, with a total value of $146,850.00. Following the completion of the acquisition, the director now owns 16,884 shares in the company, valued at approximately $495,883.08. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of NYSE:MAC traded up $0.16 during mid-day trading on Thursday, reaching $30.07. The company had a trading volume of 82,233 shares, compared to its average volume of 1,709,090. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 7.79, a price-to-earnings-growth ratio of 3.71 and a beta of 0.73. The company has a 50-day simple moving average of $32.55. Macerich Co has a one year low of $28.87 and a one year high of $59.22.
Macerich (NYSE:MAC) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The company had revenue of $227.97 million for the quarter, compared to analysts’ expectations of $213.18 million. Macerich had a net margin of 11.59% and a return on equity of 3.49%. Macerich’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 EPS. On average, equities analysts expect that Macerich Co will post 3.56 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of MAC. Cohen & Steers Inc. raised its holdings in shares of Macerich by 105.1% in the 2nd quarter. Cohen & Steers Inc. now owns 13,228,878 shares of the real estate investment trust’s stock worth $443,035,000 after purchasing an additional 6,780,378 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Macerich by 59.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,953,948 shares of the real estate investment trust’s stock worth $132,418,000 after purchasing an additional 1,470,315 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Macerich by 519.9% in the 1st quarter. JPMorgan Chase & Co. now owns 1,093,975 shares of the real estate investment trust’s stock worth $47,424,000 after purchasing an additional 917,498 shares during the period. Vanguard Group Inc. raised its holdings in shares of Macerich by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 20,554,457 shares of the real estate investment trust’s stock worth $688,368,000 after purchasing an additional 711,878 shares during the period. Finally, Presima Inc. raised its holdings in shares of Macerich by 53.8% in the 1st quarter. Presima Inc. now owns 1,535,000 shares of the real estate investment trust’s stock worth $66,542,000 after purchasing an additional 536,700 shares during the period. 97.60% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on the company. Barclays reiterated a “hold” rating and set a $36.00 price target on shares of Macerich in a report on Thursday, July 18th. Citigroup dropped their price target on shares of Macerich from $46.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Morgan Stanley dropped their price target on shares of Macerich from $180.00 to $170.00 and set an “underweight” rating on the stock in a research report on Thursday, June 20th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $44.00 price target on shares of Macerich in a research report on Monday, August 5th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $58.00.
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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