Macerich Co (NYSE:MAC) President Edward C. Coppola purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were bought at an average price of $23.30 per share, for a total transaction of $233,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NYSE MAC traded down $0.02 during midday trading on Friday, hitting $22.84. 2,861,100 shares of the company’s stock were exchanged, compared to its average volume of 3,127,316. Macerich Co has a 12-month low of $22.25 and a 12-month high of $44.73. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of 1.98. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 5.59 and a beta of 0.77. The business’s fifty day moving average price is $24.99 and its two-hundred day moving average price is $27.95.
Macerich (NYSE:MAC) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.79). Macerich had a return on equity of 3.28% and a net margin of 10.44%. The business had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $226.97 million. During the same period in the previous year, the firm posted $1.09 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities analysts expect that Macerich Co will post 3.42 earnings per share for the current fiscal year.
MAC has been the topic of several analyst reports. KeyCorp cut Macerich from a “sector weight” rating to an “underweight” rating and set a $21.50 price target on the stock. in a research report on Tuesday, December 17th. ValuEngine upgraded Macerich from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. TheStreet upgraded Macerich from a “d+” rating to a “c” rating in a research report on Monday, December 9th. SunTrust Banks decreased their price target on Macerich from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Finally, Jefferies Financial Group cut Macerich from a “hold” rating to an “underperform” rating and decreased their price target for the company from $29.00 to $19.00 in a research report on Wednesday, January 15th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Macerich presently has a consensus rating of “Hold” and an average target price of $28.43.
Hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc grew its holdings in shares of Macerich by 591.0% during the fourth quarter. IFP Advisors Inc now owns 1,223 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,046 shares in the last quarter. BerganKDV Wealth Management LLC purchased a new position in shares of Macerich during the fourth quarter worth about $35,000. Parallel Advisors LLC grew its holdings in shares of Macerich by 4,159.4% during the third quarter. Parallel Advisors LLC now owns 1,363 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 1,331 shares in the last quarter. Cornerstone Advisors Inc. grew its holdings in shares of Macerich by 91.9% during the third quarter. Cornerstone Advisors Inc. now owns 2,098 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 1,005 shares in the last quarter. Finally, West Bancorporation Inc. purchased a new position in shares of Macerich during the fourth quarter worth about $60,000.
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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