Brokerages Set Macerich Company (The) (NYSE:MAC) Target Price at $19.76

Macerich Company (The) (NYSE:MAC) has earned an average rating of “Hold” from the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $19.7636.

MAC has been the topic of a number of research reports. Scotiabank raised their price objective on Macerich from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, November 13th. Truist Financial raised their price target on shares of Macerich from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Mizuho set a $21.00 price target on shares of Macerich in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Macerich in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group restated a “buy” rating and set a $21.00 target price on shares of Macerich in a report on Monday, December 15th.

Institutional Investors Weigh In On Macerich

Institutional investors and hedge funds have recently modified their holdings of the stock. M&T Bank Corp acquired a new position in Macerich during the 4th quarter worth approximately $1,315,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Macerich by 5.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 172,901 shares of the real estate investment trust’s stock valued at $3,192,000 after acquiring an additional 9,546 shares in the last quarter. Salomon & Ludwin LLC raised its stake in shares of Macerich by 156.6% during the fourth quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,336 shares during the period. Evergreen Capital Management LLC lifted its position in shares of Macerich by 22.7% during the fourth quarter. Evergreen Capital Management LLC now owns 14,813 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 2,741 shares in the last quarter. Finally, Vert Asset Management LLC lifted its position in shares of Macerich by 6.5% during the fourth quarter. Vert Asset Management LLC now owns 123,984 shares of the real estate investment trust’s stock worth $2,289,000 after purchasing an additional 7,567 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Stock Performance

NYSE:MAC opened at $17.95 on Monday. The company has a market cap of $4.60 billion, a P/E ratio of -11.29, a P/E/G ratio of 3.44 and a beta of 2.06. The firm’s 50 day moving average is $18.12 and its two-hundred day moving average is $17.68. Macerich has a fifty-two week low of $12.48 and a fifty-two week high of $21.12. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.97.

Macerich (NYSE:MAC) last released its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $253.26 million for the quarter, compared to analyst estimates of $246.77 million. Macerich had a negative return on equity of 14.21% and a negative net margin of 37.97%.The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 earnings per share. Analysts expect that Macerich will post 1.55 EPS for the current year.

Macerich Company Profile

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.