The Macerich Company (NYSE:MAC) Given Average Recommendation of “Hold” by Analysts

The Macerich Company (NYSE:MAC) has been given a consensus recommendation of “Hold” by the twelve brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $18.95.

MAC has been the topic of several analyst reports. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and upped their target price for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. The Goldman Sachs Group dropped their price objective on Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a research note on Monday, March 10th. Piper Sandler lowered their target price on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Friday, February 28th. Morgan Stanley cut their price target on shares of Macerich from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. Finally, Scotiabank lowered their price objective on shares of Macerich from $21.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday.

Macerich Trading Up 1.2 %

Shares of NYSE:MAC opened at $14.84 on Friday. The company’s 50-day moving average price is $16.50 and its two-hundred day moving average price is $18.76. Macerich has a one year low of $12.48 and a one year high of $22.27. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $3.75 billion, a PE ratio of 38.05, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were issued a $0.17 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 annualized dividend and a yield of 4.58%. Macerich’s dividend payout ratio is currently -86.08%.

Institutional Trading of Macerich

Several institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of Macerich in the fourth quarter valued at about $30,000. Lazard Asset Management LLC acquired a new position in Macerich during the fourth quarter worth about $45,000. Blue Trust Inc. increased its position in Macerich by 68.8% during the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,064 shares in the last quarter. State of Wyoming bought a new position in shares of Macerich in the 4th quarter valued at $55,000. Finally, Smartleaf Asset Management LLC raised its position in Macerich by 314.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 2,630 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors.

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.