The Macerich Company (NYSE:MAC) Given Consensus Rating of “Hold” by Analysts

The Macerich Company (NYSE:MAC) has been given a consensus recommendation of “Hold” by the twelve research firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $18.95.

MAC has been the topic of a number of recent research reports. Scotiabank dropped 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, April 23rd. Morgan Stanley reduced their price objective on Macerich from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. Piper Sandler lowered their target price on Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group cut their price target on Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a research report on Monday, March 10th.

Institutional Investors Weigh In On Macerich

A number of institutional investors and hedge funds have recently modified their holdings of MAC. Friedenthal Financial purchased a new stake in Macerich during the fourth quarter worth $771,000. Smartleaf Asset Management LLC raised its stake in shares of Macerich by 314.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 2,630 shares during the last quarter. Van ECK Associates Corp grew its stake in Macerich by 20.4% in the 4th quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust’s stock valued at $893,000 after acquiring an additional 7,608 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Macerich by 2.2% during the 4th quarter. New York State Teachers Retirement System now owns 183,508 shares of the real estate investment trust’s stock valued at $3,655,000 after acquiring an additional 3,979 shares in the last quarter. Finally, FIL Ltd raised its position in Macerich by 4.7% during the fourth quarter. FIL Ltd now owns 1,158,518 shares of the real estate investment trust’s stock worth $23,078,000 after acquiring an additional 51,994 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Performance

Shares of MAC opened at $14.63 on Friday. The company’s 50 day simple moving average is $16.18 and its 200-day simple moving average is $18.70. The firm has a market cap of $3.70 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17. Macerich has a 12-month low of $12.48 and a 12-month high of $22.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.65%. Macerich’s payout ratio is -86.08%.

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.