Macerich (NYSE:MAC – Get Rating) Its price target was upped by stock analysts at Truist Financial from $13.00 to $15.00 in a report issued on Friday, The Fly reports. Truist Financial’s target price would indicate a potential upside of 28.10% from the company’s current price.
Several other equities analysts have also weighed in on MAC. Piper Sandler boosted their target price on shares of Macerich to $9.00 in a report on Wednesday, November 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on Macerich from $13.00 to $16.00 in a research note on Monday, December 5th. StockNews.com began coverage on Macerich in a research note on Wednesday, October 12th. They gave the company a “sell” rating. Evercore ISI cut their target price on Macerich from $13.00 to $11.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 27th. Finally, TheStreet upgraded shares of Macerich from a “d+” rating to a “c-” rating in a research note on Thursday, November 17th. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.65, according to MarketBeat.com.
Macerich trade fell by 4.4%
MAC stock traded down $0.54 during mid-day trading on Friday, hitting $11.71. 110,974 shares of the company’s stock traded hands, compared to its average volume of 2,771,882. The company has a debt equity ratio of 1.46, a current ratio of 0.90, and a quick ratio of 0.90. Macerich has a fifty-two week low of $7.40 and a fifty-two week high of $19.18. The business has a 50 day moving average of $11.51 and a two hundred day moving average of $10.34. The company has a market capitalization of $2.52 billion, a P/E ratio of -30.00, a PEG ratio of 1.88 and a beta of 2.06.
Insider activity at Macerich
In related news, CFO Scott W. Kingsmore acquired 4,000 shares of the firm’s stock in a transaction on Monday, September 26th. The stock was bought at an average price of $7.54 per share, for a total value of $30,160.00. Following the acquisition, the chief financial officer now directly owns 36,310 shares of the company’s stock, valued at $273,777.40. The acquisition was disclosed in a filing with the Securities and Exchange Commission, available at this link. In other news, CFO Scott W. Kingsmore purchased 4,000 shares of the firm’s stock in a transaction dated Monday, September 26th. The stock traded at an average of $7.54 per share, for a total transaction of $30,160.00. Following the transaction, the chief financial officer now owns 36,310 shares in the company, valued at $273,777.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ann C. Menard bought 2,797 shares of the stock in a transaction on Monday, September 19th. The shares were purchased at an average price of $8.94 per share, for a total value of $25,005.18. Following the acquisition, the insider now owns 14,494 shares of the company’s stock, valued at $129,576.36. Information about this purchase can be found here. Insiders purchased 93,517 shares of company stock valued at $754,342 over the last ninety days. Corporate insiders own 1.77% of the company’s shares.
Institutional investors have weighed in on Macerich
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Teachers Retirement System of The State Of Kentucky raised its holdings in shares of Macerich by 8.8% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 31,055 shares of the real estate investment trust’s stock valued at $486,000 after buying an additional 2,500 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company LLC grew its position in Macerich LLC by 12.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,870 shares of the real estate investment trust’s stock worth $208,000 after buying an additional 2,639 shares during the period. Quantamental Technologies LLC acquired a new position in shares of Macerich during the second quarter valued at $483,000. Delphia USA Inc. bought a new position in shares of Macerich in the second quarter worth approximately $90,000. Finally, Swiss National Bank boosted its holdings in shares of Macerich by 7.5% in the 1st quarter. Swiss National Bank now owns 503,715 shares of the real estate investment trust’s stock worth $7,878,000 after acquiring an additional 35,100 shares during the period. Institutional investors and hedge funds own 83.33% of the company’s shares.
Macerich Company Profile
Macerich is a fully integrated, self-managed and self-managed real estate investment trust focused on the acquisition, lease, management, development and redevelopment of regional shopping centers in the United States. Macerich currently owns 51 million square feet of real estate, primarily comprising 47 regional shopping centers.
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