Jackson Hsieh Buys 140,000 Shares of The Macerich Company (NYSE:MAC) Stock

The Macerich Company (NYSE:MAC) CEO Jackson Hsieh acquired 140,000 shares of the stock in a transaction dated Monday, May 6th. The shares were bought at an average cost of $14.26 per share, for a total transaction of $1,996,400.00. Following the acquisition, the chief executive officer now owns 170,500 shares in the company, valued at approximately $2,431,330. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Macerich Stock Up 3.8 %

MAC stock opened at $15.24 on Wednesday. The business’s 50-day simple moving average is $15.99 and its 200 day simple moving average is $14.75. The company has a quick ratio of 0.95, a current ratio of 1.03 and a debt-to-equity ratio of 1.85. The company has a market cap of $3.29 billion, a PE ratio of -9.77, a price-to-earnings-growth ratio of 1.64 and a beta of 2.38. The Macerich Company has a twelve month low of $9.05 and a twelve month high of $17.69.

Macerich (NYSE:MAC) last released 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). The firm had revenue of $238.70 million for the quarter, compared to the consensus estimate of $224.49 million. Macerich had a negative net margin of 38.96% and a negative return on equity of 13.42%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. On average, research analysts anticipate that The Macerich Company will post 1.77 earnings per share for the current year.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Friday, May 17th. Macerich’s dividend payout ratio (DPR) is presently -43.59%.

Hedge Funds Weigh In On Macerich

A number of hedge funds have recently made changes to their positions in the business. Signaturefd LLC raised its position in Macerich by 152.4% in the fourth quarter. Signaturefd LLC now owns 2,166 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,308 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Macerich during the 3rd quarter worth approximately $36,000. Anchor Investment Management LLC acquired a new stake in Macerich in the 4th quarter valued at $40,000. Quest Partners LLC bought a new stake in Macerich in the fourth quarter valued at $41,000. Finally, Fidelis Capital Partners LLC acquired a new position in Macerich during the first quarter worth $46,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

MAC has been the topic of several analyst reports. Truist Financial reiterated a “hold” rating and set a $16.00 price target on shares of Macerich in a report on Monday, March 25th. The Goldman Sachs Group upped their price objective on shares of Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. Compass Point dropped their target price on shares of Macerich from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Piper Sandler cut shares of Macerich from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $17.00 to $11.00 in a report on Wednesday, May 1st. Finally, Mizuho dropped their price objective on Macerich from $17.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 1st. Four analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.83.

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.