The Macerich Company (NYSE:MAC) Director Andrea M. Stephen Sells 63,289 Shares

The Macerich Company (NYSE:MAC) Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the transaction, the director now owns 83,479 shares in the company, valued at approximately $1,718,832.61. This trade represents a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Macerich Price Performance

Shares of NYSE:MAC traded down $0.18 on Monday, hitting $19.96. The company had a trading volume of 734,611 shares, compared to its average volume of 1,882,782. The company has a market cap of $4.96 billion, a PE ratio of 51.18, a PEG ratio of 0.75 and a beta of 2.51. The business has a 50 day moving average of $19.96 and a 200 day moving average of $17.39. The Macerich Company has a 52-week low of $12.99 and a 52-week high of $22.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). The firm had revenue of $220.20 million for the quarter, compared to analysts’ expectations of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. As a group, equities analysts anticipate that The Macerich Company will post 1.56 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Tuesday, November 12th. Macerich’s dividend payout ratio (DPR) is 174.36%.

Institutional Trading of Macerich

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of Macerich by 12,475.9% during the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock worth $214,738,000 after purchasing an additional 11,679,276 shares in the last quarter. Bamco Inc. NY lifted its holdings in Macerich by 742.3% in the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock worth $30,924,000 after buying an additional 1,494,145 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Macerich by 399.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust’s stock valued at $28,206,000 after acquiring an additional 1,236,983 shares in the last quarter. Smead Capital Management Inc. lifted its stake in shares of Macerich by 3.5% in the third quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock worth $372,706,000 after acquiring an additional 688,790 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in shares of Macerich in the 2nd quarter valued at approximately $10,625,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MAC. Scotiabank upgraded Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price target on the stock in a research note on Tuesday, December 17th. Compass Point boosted their target price on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. StockNews.com cut shares of Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $14.00 to $22.00 in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group upped their price target on Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a report on Thursday, September 19th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.86.

About Macerich

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.