Macerich (NYSE:MAC) Stock Rating Lowered by StockNews.com

Macerich (NYSE:MAC) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Other equities analysts have also issued reports about the stock. Truist Financial reaffirmed 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 raised their price objective on Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. Finally, Citigroup upgraded Macerich from a “sell” rating to a “neutral” rating and upped their target price for the stock from $8.00 to $17.00 in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.40.

Macerich Stock Up 2.1 %

Shares of NYSE:MAC opened at $16.01 on Tuesday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day simple moving average of $16.33 and a two-hundred day simple moving average of $14.58. Macerich has a 1 year low of $9.05 and a 1 year high of $17.69. The firm has a market capitalization of $3.45 billion, a PE ratio of -12.60, a price-to-earnings-growth ratio of 1.76 and a beta of 2.33.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.26). Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The business had revenue of $238.70 million for the quarter, compared to analysts’ expectations of $224.49 million. During the same quarter in the previous year, the firm earned $0.53 EPS. Macerich’s revenue was up 4.6% compared to the same quarter last year. On average, equities analysts predict that Macerich will post 1.8 EPS for the current year.

Insider Activity at Macerich

In related news, Director Hern Thomas E. O sold 7,964 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total transaction of $130,529.96. Following the completion of the transaction, the director now owns 197,900 shares in the company, valued at approximately $3,243,581. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Macerich news, President Edward C. Coppola sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total value of $860,000.00. Following the completion of the sale, the president now owns 655,667 shares of the company’s stock, valued at $11,277,472.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Hern Thomas E. O sold 7,964 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $16.39, for a total value of $130,529.96. Following the sale, the director now owns 197,900 shares in the company, valued at approximately $3,243,581. The disclosure for this sale can be found here. Insiders have sold a total of 172,964 shares of company stock valued at $2,940,030 over the last quarter. 0.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Macerich

Several hedge funds and other institutional investors have recently modified their holdings of MAC. Commonwealth Equity Services LLC increased its position in shares of Macerich by 3,114.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 428,936 shares of the real estate investment trust’s stock valued at $7,391,000 after acquiring an additional 415,590 shares during the period. New Mexico Educational Retirement Board acquired a new position in shares of Macerich in the first quarter valued at about $756,000. Monument Capital Management purchased a new position in shares of Macerich in the first quarter worth about $406,000. SeaCrest Wealth Management LLC lifted its holdings in shares of Macerich by 1.6% during the first quarter. SeaCrest Wealth Management LLC now owns 60,937 shares of the real estate investment trust’s stock worth $1,050,000 after purchasing an additional 978 shares during the period. Finally, Harbour Capital Advisors LLC purchased a new stake in Macerich in the first quarter valued at approximately $577,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich 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, DC corridor.