Macerich Co (NYSE:MAC) SVP Kenneth Volk sold 5,000 shares of Macerich stock in a transaction on Friday, March 8th. The shares were sold at an average price of $42.19, for a total transaction of $210,950.00. Following the sale, the senior vice president now directly owns 12,399 shares of the company’s stock, valued at approximately $523,113.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of NYSE MAC traded up $0.42 during trading hours on Friday, hitting $44.22. 580,637 shares of the company’s stock were exchanged, compared to its average volume of 948,327. Macerich Co has a 1-year low of $40.90 and a 1-year high of $60.95. The stock has a market capitalization of $6.24 billion, a PE ratio of 11.49, a P/E/G ratio of 6.99 and a beta of 0.88. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.99 and a current ratio of 0.99.
Macerich (NYSE:MAC) last posted its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $1.09 earnings per share for the quarter, meeting the consensus estimate of $1.09. The company had revenue of $246.90 million during the quarter, compared to analysts’ expectations of $228.64 million. Macerich had a return on equity of 2.41% and a net margin of 6.25%. Macerich’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 earnings per share. As a group, equities research analysts forecast that Macerich Co will post 3.56 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Liberty Wealth Management LLC acquired a new position in shares of Macerich during the fourth quarter valued at about $39,000. CSat Investment Advisory L.P. grew its position in Macerich by 63.1% during the fourth quarter. CSat Investment Advisory L.P. now owns 1,024 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 396 shares in the last quarter. Federated Investors Inc. PA bought a new position in Macerich during the third quarter valued at about $48,000. Meeder Asset Management Inc. raised its holdings in Macerich by 1,480.2% in the 4th quarter. Meeder Asset Management Inc. now owns 1,754 shares of the real estate investment trust’s stock valued at $76,000 after acquiring an additional 1,643 shares in the last quarter. Finally, Ffcm LLC lifted its position in shares of Macerich by 174.7% in the 4th quarter. Ffcm LLC now owns 2,266 shares of the real estate investment trust’s stock worth $98,000 after acquiring an additional 1,441 shares during the period. Institutional investors own 97.52% of the company’s stock.
Several brokerages have recently commented on MAC. Mizuho set a $51.00 price target on shares of Macerich and gave the stock a “buy” rating in a research note on Sunday, December 16th. JPMorgan Chase & Co. cut shares of Macerich from a “neutral” rating to an “underweight” rating in a report on Wednesday, December 19th. Zacks Investment Research downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research report on Tuesday, December 18th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $46.00 price target on shares of Macerich in a research report on Wednesday, February 13th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $46.00 price objective on shares of Macerich in a report on Tuesday, February 26th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $55.62.
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.