Macerich (NYSE:MAC) Sees Large Volume Increase – Here’s Why

Macerich Company (The) (NYSE:MAC) shares saw unusually-high trading volume on Friday . 3,159,804 shares traded hands during mid-day trading, an increase of 14% from the previous session’s volume of 2,771,691 shares.The stock last traded at $24.1940 and had previously closed at $23.49.

Analyst Ratings Changes

A number of research analysts have recently commented on MAC shares. Truist Financial boosted their target price on shares of Macerich from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Jefferies Financial Group raised shares of Macerich to a “strong-buy” rating in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft raised shares of Macerich from a “hold” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $27.00 in a research note on Tuesday, June 2nd. Mizuho set a $28.00 price objective on shares of Macerich in a research report on Wednesday. Finally, JPMorgan Chase & Co. upgraded Macerich from an “underweight” rating to a “neutral” rating and raised their target price for the company from $23.00 to $25.00 in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.67.

Macerich Stock Up 4.3%

The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $6.95 billion, a P/E ratio of -37.70, a P/E/G ratio of 1.72 and a beta of 2.07. The stock’s 50 day simple moving average is $24.85 and its 200 day simple moving average is $21.80.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The company had revenue of $249.71 million for the quarter, compared to analyst estimates of $239.77 million. Macerich had a negative return on equity of 6.26% and a negative net margin of 16.85%.Macerich’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 earnings per share. As a group, research analysts predict that Macerich Company will post 1.49 EPS for the current fiscal year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, September 14th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, September 14th. Macerich’s payout ratio is currently -104.62%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in shares of Macerich by 76.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 585 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Macerich by 366.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 1,095 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in Macerich by 80.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 684 shares during the period. Triumph Capital Management bought a new stake in Macerich during the third quarter valued at $33,000. Finally, Salomon & Ludwin LLC increased its stake in Macerich by 156.6% during the fourth quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,336 shares during the last quarter. Institutional investors own 87.38% of the company’s stock.

Macerich Company Profile

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.