Stephen Andrea M, a director at Macerich Co . (NYSE:MAC), recently sold a significant portion of common stock in the company. The transaction, which took place on December 26, 2024, involved the sale of 63,289 shares at an average price of $20.59 per share. The sale comes as Macerich, a $5.1 billion market cap company, has seen its stock surge over 33% in the past six months, according to InvestingPro data. The total value of the shares sold amounted to approximately $1.3 million. Following this transaction, the reporting person holds no shares directly, with the remaining shares owned indirectly by a family member. The sales price for the shares ranged from $20.51 to $20.615. Currently trading at a P/E ratio of 55x and offering a 3.38% dividend yield, InvestingPro analysis suggests the stock is trading above its Fair Value. Investors can access 8 additional ProTips and a comprehensive Pro Research Report for deeper insights into Macerich's valuation and prospects.
In other recent news, The Macerich Company (NYSE:MAC) has seen significant developments. Macerich reported a 14.4% year-over-year decrease in core Funds From Operations Per Share (FFOPS) to $0.38 for Q3 2024, leading Goldman Sachs to revise its 2025 forecast for Macerich's FFO per share downwards by 9%. The company also announced a public offering of 18 million shares of common stock to repay a $478.0 million mortgage loan secured by its Washington Square property.
Analyst firms have adjusted their outlooks accordingly. Deutsche Bank (ETR:DBKGn) initiated a Hold rating on Macerich, citing execution challenges, while Piper Sandler and JPMorgan maintained their Underweight ratings despite raising their price targets. Mizuho (NYSE:MFG) upgraded Macerich to a neutral rating and increased its price target to $22.
These are recent developments that investors should consider. It is important to note that these projections are subject to various risks and uncertainties, so actual results may differ.
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