The Macerich Company (NYSE:MAC) Insider Ann C. Menard Acquires 2,797 Shares

The Macerich Company (NYSE:MACGet Rating) insider Ann C. Menard bought 2,797 shares of Macerich stock in a transaction on Monday, September 19th. The stock was acquired at an average cost of $8.94 per share, for a total transaction of $25,005.18. Following the acquisition, the insider now owns 14,494 shares in the company, valued at approximately $129,576.36. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Macerich Trading Down 7.2 %

Shares of MAC opened at $8.15 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.21 and a quick ratio of 1.21. The Macerich Company has a 1-year low of $8.11 and a 1-year high of $22.88. The company has a market capitalization of $1.75 billion, a P/E ratio of 45.28, a P/E/G ratio of 1.56 and a beta of 1.96. The firm’s 50 day simple moving average is $10.04 and its 200 day simple moving average is $11.53.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Friday, August 19th were paid a $0.15 dividend. The ex-dividend date was Thursday, August 18th. This represents a $0.60 dividend on an annualized basis and a yield of 7.36%. Macerich’s dividend payout ratio is presently 333.33%.

Institutional Investors Weigh In On Macerich

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in Macerich by 450.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,619 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 1,325 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Macerich in the 2nd quarter valued at $29,000. Whittier Trust Co. grew its holdings in shares of Macerich by 201.1% during the 1st quarter. Whittier Trust Co. now owns 2,246 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,500 shares during the last quarter. Caption Management LLC purchased a new position in Macerich in the 2nd quarter worth $61,000. Finally, Neo Ivy Capital Management bought a new stake in Macerich in the second quarter worth $70,000. Institutional investors own 83.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MAC. Morgan Stanley reduced their target price on shares of Macerich from $11.25 to $8.50 and set an “underweight” rating on the stock in a report on Thursday, July 7th. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. Compass Point lowered their target price on shares of Macerich from $27.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, June 22nd. Piper Sandler lowered their target price on Macerich to $9.00 in a report on Monday, July 4th. Finally, Jefferies Financial Group cut their price objective on shares of Macerich from $15.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, June 30th. Seven investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.45.

Macerich Company Profile

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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.

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Insider Buying and Selling by Quarter for Macerich (NYSE:MAC)

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