Macerich (NYSE:MAC – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.90-$2.04 for the period. The company issued revenue guidance of -.
A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Macerich from $27.00 to $23.00 and set a buy rating for the company in a research report on Thursday, March 31st. TheStreet cut shares of Macerich from a c rating to a d+ rating in a report on Thursday, February 10th. Wells Fargo & Company dropped their price objective on shares of Macerich from $17.00 to $15.00 and set an underweight rating for the company in a report on Thursday, April 7th. The Goldman Sachs Group dropped their price objective on shares of Macerich from $13.50 to $12.00 and set a sell rating for the company in a report on Friday. Finally, Piper Sandler cut shares of Macerich from a neutral rating to an underweight rating and dropped their price objective for the company from $18.00 to $14.00 in a report on Monday, April 18th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $19.09.
Shares of Macerich stock opened at $11.47 on Monday. Macerich has a 52-week low of $11.12 and a 52-week high of $22.88. The company has a 50 day moving average of $13.93 and a 200 day moving average of $16.24. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $2.46 billion, a P/E ratio of 57.35, a P/E/G ratio of 1.61 and a beta of 1.88.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 3rd. Investors of record on Friday, May 20th will be paid a $0.15 dividend. The ex-dividend date is Thursday, May 19th. This represents a $0.60 dividend on an annualized basis and a yield of 5.23%. Macerich’s dividend payout ratio is currently 300.00%.
In related news, President Edward C. Coppola acquired 2,100 shares of Macerich stock in a transaction dated Thursday, March 31st. The stock was acquired at an average price of $15.90 per share, for a total transaction of $33,390.00. Following the transaction, the president now owns 475,739 shares of the company’s stock, valued at $7,564,250.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Edward C. Coppola acquired 10,000 shares of Macerich stock in a transaction dated Monday, March 28th. The shares were bought at an average price of $14.98 per share, with a total value of $149,800.00. The disclosure for this purchase can be found here. Insiders have bought a total of 22,100 shares of company stock valued at $329,390 in the last 90 days. Insiders own 1.94% of the company’s stock.
Several institutional investors have recently made changes to their positions in MAC. Morgan Stanley increased its holdings in shares of Macerich by 417.1% in the 2nd quarter. Morgan Stanley now owns 2,400,938 shares of the real estate investment trust’s stock valued at $43,819,000 after acquiring an additional 1,936,651 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Macerich in the 3rd quarter valued at $262,000. Royal Bank of Canada increased its holdings in shares of Macerich by 28.2% in the 3rd quarter. Royal Bank of Canada now owns 64,905 shares of the real estate investment trust’s stock valued at $1,085,000 after acquiring an additional 14,295 shares during the period. UBS Group AG increased its holdings in shares of Macerich by 3.0% in the 3rd quarter. UBS Group AG now owns 112,287 shares of the real estate investment trust’s stock valued at $1,876,000 after acquiring an additional 3,278 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Macerich in the 4th quarter valued at $775,000. 84.57% of the stock is currently owned by institutional investors and hedge funds.
Macerich Company Profile (Get Rating)
Macerich 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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