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

The Macerich Company (NYSE:MAC) has earned a consensus recommendation of “Reduce” from the ten analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $18.86.

A number of research firms have recently weighed in on MAC. The Goldman Sachs Group raised their price target on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a report on Thursday, September 19th. Evercore ISI increased their price target on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $22.00 in a report on Wednesday, December 4th. StockNews.com cut shares of Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Piper Sandler upped their price target on shares of Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a research note on Wednesday, December 11th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. increased its holdings in shares of Macerich by 0.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust’s stock valued at $5,029,000 after purchasing an additional 700 shares in the last quarter. Lodestone Wealth Management LLC increased its holdings in Macerich by 0.6% in the third quarter. Lodestone Wealth Management LLC now owns 154,082 shares of the real estate investment trust’s stock valued at $2,810,000 after buying an additional 859 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Macerich by 7.2% in the third quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock worth $245,000 after acquiring an additional 902 shares during the period. GAMMA Investing LLC boosted its stake in shares of Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 933 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Macerich by 152.2% during the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 933 shares during the period. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Trading Up 1.7 %

NYSE MAC opened at $20.26 on Friday. The company’s 50-day simple moving average is $19.80 and its two-hundred day simple moving average is $17.17. Macerich has a one year low of $12.99 and a one year high of $22.27. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 51.95, a price-to-earnings-growth ratio of 0.74 and a beta of 2.51. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92.

Macerich (NYSE:MAC) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). The business had revenue of $220.20 million during the quarter, compared to the consensus estimate of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the firm earned $0.44 EPS. Equities analysts forecast that Macerich will post 1.56 EPS for the current fiscal year.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.36%. The ex-dividend date was Tuesday, November 12th. Macerich’s dividend payout ratio (DPR) is 174.36%.

About Macerich

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.