Insider Selling: Hern Thomas E. O Sells 5,000 Shares of Macerich Stock (MAC)
Macerich (NYSE:MAC) CFO Hern Thomas E. O sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $66.30, for a total transaction of $331,500.00. Following the sale, the chief financial officer now directly owns 61,267 shares of the company’s stock, valued at approximately $4,062,002. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on MAC. Analysts at Cowen and Company raised their price target on shares of Macerich from $74.00 to $76.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Macerich in a research note on Wednesday, August 6th. They now have a $72.00 price target on the stock, down previously from $73.00. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Macerich in a research note on Tuesday, August 5th. They now have a $70.00 price target on the stock, down previously from $73.00. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $69.90.
Shares of Macerich (NYSE:MAC) traded down 0.43% during mid-day trading on Friday, hitting $65.46. The stock had a trading volume of 805,873 shares. Macerich has a one year low of $55.13 and a one year high of $68.81. The stock has a 50-day moving average of $66.54 and a 200-day moving average of $63.76. The company has a market cap of $9.211 billion and a P/E ratio of 42.74.
Macerich (NYSE:MAC) last released its earnings data on Wednesday, July 23rd. The company reported $0.86 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.84 by $0.02. The company had revenue of $254.33 million for the quarter, compared to the consensus estimate of $149.60 million. During the same quarter last year, the company posted $0.87 earnings per share. Macerich’s revenue was down 3.3% compared to the same quarter last year. Analysts expect that Macerich will post $3.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 5th. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Monday, August 18th.
The Macerich Company is a fully integrated self-managed and self-administered real estate investment trust.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.