Macerich (NYSE:MAC) Rating Lowered to “Sell” at StockNews.com

Macerich (NYSE:MAC) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Other research analysts also recently issued research reports about the company. Compass Point upped their price objective on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler upped their price objective on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research note on Tuesday, September 3rd. Bank of America upped their price objective on Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Evercore ISI upped their target price on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Finally, The Goldman Sachs Group upped their target price on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a report on Thursday, September 19th. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.40.

Macerich Price Performance

NYSE MAC traded up $0.70 during trading on Thursday, hitting $19.31. 1,624,438 shares of the company’s stock were exchanged, compared to its average volume of 1,775,422. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.76. The company has a market cap of $4.17 billion, a PE ratio of -58.50, a P/E/G ratio of 0.62 and a beta of 2.50. Macerich has a fifty-two week low of $9.90 and a fifty-two week high of $20.27. The stock’s 50 day moving average price is $17.55 and its two-hundred day moving average price is $16.02.

Institutional Investors Weigh In On Macerich

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased 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 purchasing an additional 933 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Macerich during the 2nd quarter valued at $50,000. GAMMA Investing LLC increased its position 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 valued at $59,000 after purchasing an additional 933 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Macerich during the 2nd quarter valued at $129,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Macerich by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 2,161 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

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.