Macerich Company (The) (NYSE:MAC) Given Average Rating of “Hold” by Brokerages

Macerich Company (The) (NYSE:MAC) has earned an average recommendation of “Hold” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $20.1077.

MAC has been the topic of a number of research reports. Truist Financial upped their price objective on Macerich from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday, June 9th. Mizuho raised Macerich from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $22.00 to $18.00 in a report on Tuesday, June 10th. JPMorgan Chase & Co. increased their target price on Macerich from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday, August 27th. Bank of America raised Macerich from a “neutral” rating to a “buy” rating and increased their target price for the stock from $19.00 to $23.00 in a report on Friday. Finally, Wall Street Zen lowered Macerich from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd.

Institutional Trading of Macerich

Large investors have recently modified their holdings of the stock. Intech Investment Management LLC lifted its position in shares of Macerich by 39.2% during the 1st quarter. Intech Investment Management LLC now owns 167,341 shares of the real estate investment trust’s stock worth $2,873,000 after buying an additional 47,089 shares during the last quarter. TCTC Holdings LLC bought a new stake in shares of Macerich during the 1st quarter worth $1,449,000. Strs Ohio bought a new stake in shares of Macerich during the 1st quarter worth $797,000. Asset Management One Co. Ltd. lifted its position in shares of Macerich by 3.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 367,295 shares of the real estate investment trust’s stock worth $6,306,000 after buying an additional 12,327 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Macerich by 1,644.0% during the 1st quarter. GAMMA Investing LLC now owns 76,527 shares of the real estate investment trust’s stock worth $1,314,000 after buying an additional 72,139 shares during the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Stock Performance

Shares of NYSE MAC opened at $17.63 on Tuesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.76 and a quick ratio of 0.76. The stock’s fifty day moving average price is $17.57 and its two-hundred day moving average price is $16.40. Macerich has a one year low of $12.48 and a one year high of $22.27. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of -10.07, a P/E/G ratio of 3.48 and a beta of 2.27.

Macerich (NYSE:MAC) last issued its quarterly earnings data on Monday, August 11th. The real estate investment trust reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The firm had revenue of $249.79 million during the quarter, compared to analyst estimates of $245.19 million. During the same period in the prior year, the company earned $0.39 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities analysts forecast that Macerich will post 1.55 EPS for the current year.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 9th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, September 9th. Macerich’s dividend payout ratio is -38.86%.

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.