Macerich (NYSE:MAC) Now Covered by LADENBURG THALM/SH SH

LADENBURG THALM/SH SH started coverage on shares of Macerich (NYSE:MAC) in a research report released on Friday morning, Marketbeat.com reports. The firm issued a buy rating and a $25.00 target price on the real estate investment trust’s stock.

Several other research firms have also commented on MAC. Scotiabank dropped their price target on shares of Macerich from $21.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley dropped their price target on shares of Macerich from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. Truist Financial increased their price objective on shares of Macerich from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday, June 9th. Piper Sandler raised shares of Macerich from an “underweight” rating to a “neutral” rating and set a $16.00 price objective on the stock in a report on Thursday, May 22nd. Finally, Mizuho raised shares of Macerich from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from $22.00 to $18.00 in a report on Tuesday, June 10th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.26.

Macerich Stock Down 0.4%

NYSE:MAC opened at $16.57 on Friday. The firm has a market capitalization of $4.19 billion, a P/E ratio of -38.53, a PEG ratio of 3.25 and a beta of 2.13. Macerich has a 1-year low of $12.48 and a 1-year high of $22.27. The company’s fifty day moving average price is $16.05 and its 200-day moving average price is $17.15. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.09 and a quick ratio of 1.09.

Macerich (NYSE:MAC) last released its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $249.22 million for the quarter, compared to analyst estimates of $221.61 million. Macerich had a negative net margin of 12.26% and a negative return on equity of 4.37%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 earnings per share. As a group, equities research analysts anticipate that Macerich will post 1.55 EPS for the current year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.10%. The ex-dividend date was Tuesday, June 3rd. Macerich’s payout ratio is currently -158.14%.

Institutional Investors Weigh In On Macerich

A number of institutional investors and hedge funds have recently made changes to their positions in MAC. Proficio Capital Partners LLC purchased a new stake in shares of Macerich in the 4th quarter valued at approximately $662,000. Raymond James Financial Inc. acquired a new position in shares of Macerich in the fourth quarter valued at approximately $450,000. HighTower Advisors LLC grew its holdings in shares of Macerich by 6.0% in the fourth quarter. HighTower Advisors LLC now owns 62,831 shares of the real estate investment trust’s stock valued at $1,252,000 after purchasing an additional 3,536 shares in the last quarter. Swiss National Bank grew its holdings in shares of Macerich by 16.1% in the fourth quarter. Swiss National Bank now owns 488,815 shares of the real estate investment trust’s stock valued at $9,737,000 after purchasing an additional 67,700 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in shares of Macerich by 21.0% in the fourth quarter. Natixis Advisors LLC now owns 207,180 shares of the real estate investment trust’s stock valued at $4,127,000 after purchasing an additional 35,951 shares in the last quarter. 87.38% of the stock is owned by hedge funds and other 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.