Dana K. Anderson Buys 10,000 Shares of The Macerich Co. (MAC) Stock
The Macerich Co. (NYSE:MAC) Vice Chairman Dana K. Anderson bought 10,000 shares of The Macerich stock in a transaction on Wednesday, November 9th. The stock was acquired at an average price of $67.78 per share, for a total transaction of $677,800.00. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
The Macerich Co. (NYSE:MAC) opened at 70.58 on Wednesday. The stock’s 50 day moving average price is $74.99 and its 200 day moving average price is $80.06. The firm has a market capitalization of $10.14 billion, a PE ratio of 11.83 and a beta of 0.84. The Macerich Co. has a 52-week low of $66.00 and a 52-week high of $94.51.
The Macerich (NYSE:MAC) last posted its quarterly earnings data on Thursday, October 27th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.04. The Macerich had a return on equity of 18.73% and a net margin of 82.09%. The business had revenue of $253.37 million for the quarter, compared to analysts’ expectations of $257.87 million. During the same quarter last year, the firm earned $1.01 earnings per share. The business’s revenue was down 22.3% on a year-over-year basis. Analysts expect that The Macerich Co. will post $4.10 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 11th will be issued a dividend of $0.71 per share. This is a boost from The Macerich’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $2.84 annualized dividend and a dividend yield of 4.02%. The Macerich’s dividend payout ratio (DPR) is 48.88%.
Large investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan boosted its stake in The Macerich by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,990 shares of the real estate investment trust’s stock valued at $323,000 after buying an additional 10 shares during the period. Great Lakes Advisors LLC boosted its stake in The Macerich by 0.7% in the third quarter. Great Lakes Advisors LLC now owns 3,635 shares of the real estate investment trust’s stock valued at $294,000 after buying an additional 26 shares during the period. Checchi Capital Advisers LLC boosted its stake in The Macerich by 4.3% in the second quarter. Checchi Capital Advisers LLC now owns 1,973 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 82 shares during the period. Forum Securities Ltd boosted its stake in The Macerich by 0.3% in the second quarter. Forum Securities Ltd now owns 25,559 shares of the real estate investment trust’s stock valued at $2,182,000 after buying an additional 82 shares during the period. Finally, GAM Holding AG boosted its position in shares of The Macerich by 0.8% in the third quarter. GAM Holding AG now owns 10,937 shares of the real estate investment trust’s stock worth $884,000 after buying an additional 92 shares during the last quarter. Institutional investors and hedge funds own 94.87% of the company’s stock.
A number of research firms have commented on MAC. Jefferies Group lifted their target price on The Macerich from $86.00 to $88.00 and gave the company a “hold” rating in a research report on Wednesday, August 31st. Mizuho upgraded The Macerich from a “neutral” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Monday, November 7th. JPMorgan Chase & Co. lifted their target price on The Macerich from $83.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday, August 5th. Zacks Investment Research downgraded The Macerich from a “buy” rating to a “hold” rating in a research report on Monday, October 24th. Finally, Credit Suisse Group AG restated a “sell” rating and issued a $78.00 target price on shares of The Macerich in a research report on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $86.62.
The Macerich Company Profile
The Macerich 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. It owns 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers.
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