The Macerich Company (NYSE:MAC) Director Edward C. Coppola Sells 20,000 Shares of Stock

The Macerich Company (NYSE:MACGet Free Report) Director Edward C. Coppola sold 20,000 shares of Macerich stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.01, for a total value of $340,200.00. Following the completion of the transaction, the director now owns 635,667 shares of the company’s stock, valued at $10,812,695.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Macerich Stock Performance

Shares of MAC stock opened at $17.23 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.67. The business has a 50-day moving average price of $16.58 and a two-hundred day moving average price of $13.88. The Macerich Company has a 12-month low of $9.05 and a 12-month high of $17.69.

Macerich (NYSE:MACGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.26). Macerich had a negative return on equity of 10.26% and a negative net margin of 31.00%. The firm had revenue of $238.70 million for the quarter, compared to the consensus estimate of $224.49 million. During the same period last year, the firm earned $0.53 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Research analysts predict that The Macerich Company will post 1.81 earnings per share for the current year.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Friday, February 16th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Thursday, February 15th. Macerich’s dividend payout ratio (DPR) is presently -53.54%.

Institutional Investors Weigh In On Macerich

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Y.D. More Investments Ltd lifted its stake in shares of Macerich by 0.9% in the 4th quarter. Y.D. More Investments Ltd now owns 81,330 shares of the real estate investment trust’s stock valued at $1,255,000 after acquiring an additional 745 shares during the last quarter. Bridgewater Associates LP increased its holdings in Macerich by 2.1% during the 2nd quarter. Bridgewater Associates LP now owns 45,327 shares of the real estate investment trust’s stock valued at $511,000 after purchasing an additional 911 shares during the period. US Bancorp DE increased its holdings in Macerich by 11.6% during the 4th quarter. US Bancorp DE now owns 8,911 shares of the real estate investment trust’s stock valued at $137,000 after purchasing an additional 928 shares during the period. Commonwealth Equity Services LLC increased its holdings in Macerich by 8.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 13,068 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 980 shares during the period. Finally, Captrust Financial Advisors increased its holdings in Macerich by 5.0% during the 4th quarter. Captrust Financial Advisors now owns 20,864 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 994 shares during the period. Institutional investors own 87.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MAC shares. Piper Sandler lifted their price target on Macerich from $12.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, December 20th. StockNews.com upgraded Macerich from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Truist Financial restated a “hold” rating and set a $16.00 target price on shares of Macerich in a research report on Monday, March 25th. The Goldman Sachs Group boosted their target price on Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. Finally, Citigroup upgraded Macerich from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, Macerich currently has a consensus rating of “Hold” and an average target price of $14.40.

View Our Latest Stock Analysis on Macerich

Macerich Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with MarketBeat.com's FREE daily email newsletter.