Macerich (NYSE:MAC) Share Price Passes Above 200 Day Moving Average – What’s Next?

Shares of Macerich Company (The) (NYSE:MAC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.47 and traded as high as $18.80. Macerich shares last traded at $18.46, with a volume of 1,184,381 shares trading hands.

Analyst Ratings Changes

A number of research firms have weighed in on MAC. Truist Financial cut their price objective on shares of Macerich from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. Jefferies Financial Group reaffirmed a “buy” rating and set a $21.00 price target on shares of Macerich in a research note on Monday, December 15th. Bank of America raised Macerich from a “neutral” rating to a “buy” rating and upped their target price for the company from $19.00 to $23.00 in a research note on Friday, September 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Macerich in a research report on Wednesday, October 8th. Finally, Evercore ISI upped their target price on shares of Macerich from $18.00 to $20.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.40.

Macerich Trading Up 0.5%

The company has a market capitalization of $4.73 billion, a PE ratio of -11.61, a price-to-earnings-growth ratio of 3.54 and a beta of 2.06. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.03 and a quick ratio of 1.03. The company’s fifty day moving average is $17.85 and its 200-day moving average is $17.47.

Macerich (NYSE:MAC) last announced its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $253.26 million for the quarter, compared to the consensus estimate of $246.77 million. Macerich had a negative net margin of 37.97% and a negative return on equity of 14.21%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business posted $0.38 EPS. On average, analysts anticipate that Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 15th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, December 15th. Macerich’s payout ratio is currently -42.77%.

Institutional Trading of Macerich

A number of institutional investors have recently bought and sold shares of MAC. Triumph Capital Management purchased a new stake in Macerich during the 3rd quarter worth approximately $33,000. Fifth Third Bancorp raised its holdings in shares of Macerich by 47.7% in the second quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 972 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Macerich during the third quarter worth $56,000. GAMMA Investing LLC grew its stake in Macerich by 14.8% during the 3rd quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 691 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Macerich by 16.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,205 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 858 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

About Macerich

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.