Macerich CFO Sells $322,900 in Stock (MAC)
Macerich (NYSE:MAC) CFO Hern Thomas E. O unloaded 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $64.58, for a total transaction of $322,900.00. Following the sale, the chief financial officer now directly owns 71,267 shares in the company, valued at approximately $4,602,423. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Macerich from $60.00 to $65.00 in a research note on Tuesday, May 13th. Separately, analysts at Global Hunter Securities upgraded shares of Macerich from an “accumulate” rating to a “buy” rating in a research note on Monday, May 5th. Finally, analysts at Barclays raised their price target on shares of Macerich from $61.00 to $64.00 in a research note on Tuesday, April 22nd. They now have an “equal weight” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Macerich has a consensus rating of “Buy” and a consensus price target of $65.40.
Macerich (NYSE:MAC) traded up 0.41% during mid-day trading on Friday, hitting $65.36. 367,571 shares of the company’s stock traded hands. Macerich has a one year low of $55.13 and a one year high of $68.28. The stock’s 50-day moving average is $65.60 and its 200-day moving average is $61.41. The company has a market cap of $9.196 billion and a price-to-earnings ratio of 21.79.
Macerich (NYSE:MAC) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.81 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.85 by $0.04. The company had revenue of $264.50 million for the quarter, compared to the consensus estimate of $149.37 million. During the same quarter last year, the company posted $0.86 earnings per share. Macerich’s revenue was up .6% compared to the same quarter last year. On average, analysts predict that Macerich will post $3.56 earnings per share for the current fiscal year.
The Macerich Company is a fully integrated self-managed and self-administered real estate investment trust (NYSE:MAC).
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