In yesterday’s Wall Street session, The Macerich Company (NYSE:MAC) shares traded at $12.52, down -1.80% from the previous session.
13 analysts cover The Macerich Company (NYSE:MAC), according to research data. The consensus rating among analysts is ‘Underweight’. As we calculate the median target price by taking the range between a high of $18.00 and a low of $8.00, we find $12.00. Given the previous closing price of $12.75, this indicates a potential downside of -5.88 percent. MAC stock price is now 16.83% away from the 50-day moving average and 12.17% away from the 200-day moving average. The market capitalization of the company currently stands at $2.74B.
The stock has received a hold rating from 6 analysts and a buy rating from 1. Brokers who have rated the stock have averaged $11.42 as their price target over the next twelve months.
In other news, Zecchini Christopher J, Chief Accounting Officer sold 2,000 shares of the company’s stock on Nov 29. The stock was sold for $25,302 at an average price of $12.65. Upon completion of the transaction, the Chief Accounting Officer now directly owns 7,458 shares in the company, valued at $93374.16. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 26, EVP, Business Development Volk Kenneth bought 10,000 shares of the business’s stock. A total of $75,750 was incurred on buying the stock at an average price of $7.58. This leaves the insider owning 46,924 shares of the company worth $0.59 million. Insiders disposed of 4,000 shares of company stock worth roughly $50080.0 over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MAC stock. A new stake in The Macerich Company shares was purchased by UBS ASSET MANAGEMENT AMERICAS INC during the first quarter worth $15,789,000. MARSHALL WACE, LLP invested $15,362,000 in shares of MAC during the first quarter. In the first quarter, CASTLEKNIGHT MANAGEMENT LP acquired a new stake in The Macerich Company valued at approximately $2,126,000. NATIXIS acquired a new stake in MAC for approximately $1,781,000. AMG NATIONAL TRUST BANK purchased a new stake in MAC valued at around $1,483,000 in the second quarter. In total, there are 393 active investors with 83.60% ownership of the company’s stock.
On Friday morning The Macerich Company (NYSE: MAC) stock kicked off with the opening price of $12.86. During the past 12 months, The Macerich Company has had a low of $7.38 and a high of $14.51. The fifty day moving average price for MAC is $10.78 and a two-hundred day moving average price translates $11.19 for the stock.
The latest earnings results from The Macerich Company (NYSE: MAC) was released for Mar, 2023. According to the REIT – Retail Company, earnings per share came in at -$0.27, missing analysts’ expectations of -$0.07 by -0.2. This compares to -$0.17 EPS in the same period last year. The net profit margin was -10.30% and return on equity was -3.10% for MAC. The company reported revenue of $214.85 million for the quarter, compared to $216.14 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.6 percent. For the current quarter, analysts expect MAC to generate $208M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/02/2023. Investors who held shares on 05/19/2023 were paid a $0.17 dividend. On an annualized basis, this represents a $0.68 dividend and a 5.43% percent yield. There was an ex-dividend date of 05/18/2023 for this dividend.
The Macerich Company(MAC) Company Profile
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, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns 47 million square feet of real estate consisting primarily of interests in 44 regional town centers (many of which include mixed-uses). Macerich is firmly dedicated to advancing environmental goals, social good and sound corporate governance. A recognized leader in sustainability, Macerich has achieved a #1 GRESB ranking for U.S. Retail, Retail Centers for eight years (2015-2022).
