StockNews.com Downgrades Macerich (NYSE:MAC) to Sell

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

A number of other analysts also recently issued reports on the stock. Truist Financial reiterated a “hold” rating and issued a $16.00 price objective on shares of Macerich in a report on Monday, March 25th. The Goldman Sachs Group boosted their price target on shares of Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. Finally, Citigroup upgraded Macerich from a “sell” rating to a “neutral” rating and raised their price objective for the company from $8.00 to $17.00 in a report on Friday, March 22nd. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $14.83.

Macerich Price Performance

NYSE MAC opened at $13.46 on Tuesday. The business has a 50 day simple moving average of $16.24 and a 200 day simple moving average of $14.63. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.95 and a current ratio of 0.95. Macerich has a 52-week low of $9.05 and a 52-week high of $17.69. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -10.60, a PEG ratio of 1.80 and a beta of 2.33.

Macerich (NYSE:MAC) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.26). The firm had revenue of $238.70 million during the quarter, compared to analyst estimates of $224.49 million. Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 EPS. Analysts anticipate that Macerich will post 1.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Macerich

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

Institutional Trading of Macerich

Institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC grew its holdings in shares of Macerich by 152.4% during the 4th quarter. Signaturefd LLC now owns 2,166 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,308 shares during the last quarter. Anchor Investment Management LLC acquired a new position in shares of Macerich during the fourth quarter worth $40,000. Quest Partners LLC bought a new position in shares of Macerich in the 4th quarter valued at $41,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Macerich during the 3rd quarter valued at $36,000. Finally, CWM LLC boosted its holdings in shares of Macerich by 51.0% during the 3rd quarter. CWM LLC now owns 5,409 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 1,826 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

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.