The Macerich Company (NYSE:MAC) – Stock analysts at Truist Securiti lowered their Q2 2021 earnings per share estimates for The Macerich in a research note issued to investors on Wednesday, March 31st. Truist Securiti analyst K. Kim now expects that the real estate investment trust will earn $0.45 per share for the quarter, down from their prior forecast of $0.53. Truist Securiti also issued estimates for The Macerich’s Q3 2021 earnings at $0.46 EPS and Q4 2021 earnings at $0.51 EPS.
MAC has been the subject of a number of other reports. KeyCorp raised shares of The Macerich from an “underweight” rating to a “sector weight” rating in a report on Monday, December 14th. Truist Securities increased their target price on shares of The Macerich from $14.00 to $15.00 in a report on Monday, March 22nd. Zacks Investment Research cut shares of The Macerich from a “hold” rating to a “sell” rating and set a $13.50 target price for the company. in a report on Thursday, January 14th. Truist raised their price objective on shares of The Macerich from $14.00 to $15.00 in a research note on Monday, March 22nd. Finally, JPMorgan Chase & Co. cut shares of The Macerich from a “neutral” rating to an “underweight” rating and set a $12.00 price objective for the company. in a research note on Monday, December 21st. Nine research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Sell” and a consensus price target of $10.32.
Shares of The Macerich stock opened at $11.70 on Thursday. The Macerich has a 12-month low of $4.54 and a 12-month high of $25.99. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 2.21. The stock has a market cap of $1.81 billion, a PE ratio of -129.99 and a beta of 2.07. The company has a 50-day moving average of $12.99 and a two-hundred day moving average of $10.77. The Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, February 10th. The real estate investment trust reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.72). The Macerich had a negative net margin of 1.55% and a negative return on equity of 1.03%.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 3rd. Shareholders of record on Friday, February 19th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, February 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.13%. The Macerich’s dividend payout ratio (DPR) is presently 16.95%.
In related news, major shareholder Teachers Pension Plan Ontario sold 24,562,964 shares of The Macerich stock in a transaction on Wednesday, January 27th. The shares were sold at an average price of $20.25, for a total transaction of $497,400,021.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.15% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Planned Solutions Inc. purchased a new stake in The Macerich during the 4th quarter worth $31,000. Chiron Capital Management LLC purchased a new stake in The Macerich during the 3rd quarter worth $39,000. BNC Wealth Management LLC purchased a new stake in The Macerich during the 3rd quarter worth $48,000. IFP Advisors Inc increased its stake in The Macerich by 137.0% during the 4th quarter. IFP Advisors Inc now owns 4,739 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 2,739 shares during the period. Finally, US Bancorp DE increased its stake in The Macerich by 68.3% during the 3rd quarter. US Bancorp DE now owns 10,200 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 4,139 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.
The Macerich Company Profile
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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