Macerich Company (The) (NYSE:MAC) Receives $20.83 Average Target Price from Analysts

Macerich Company (The) (NYSE:MAC) has earned an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $20.8333.

Several brokerages recently commented on MAC. Truist Financial boosted their target price on Macerich from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. The Goldman Sachs Group boosted their target price on Macerich from $15.00 to $17.00 and gave the stock a “sell” rating in a report on Monday, March 2nd. Mizuho set a $21.00 target price on shares of Macerich in a research note on Friday, January 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Macerich in a research note on Thursday, January 22nd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $21.00 target price on shares of Macerich in a research note on Monday, December 15th.

Institutional Trading of Macerich

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC lifted its stake in Macerich by 19.6% during the fourth quarter. Hsbc Holdings PLC now owns 853,351 shares of the real estate investment trust’s stock valued at $15,751,000 after purchasing an additional 140,121 shares during the last quarter. Corient Private Wealth LLC acquired a new stake in Macerich during the fourth quarter valued at approximately $215,000. Caitong International Asset Management Co. Ltd acquired a new stake in Macerich during the fourth quarter valued at approximately $49,000. Invesco Ltd. lifted its stake in Macerich by 1.7% during the fourth quarter. Invesco Ltd. now owns 613,957 shares of the real estate investment trust’s stock valued at $11,334,000 after purchasing an additional 10,287 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Macerich during the fourth quarter valued at approximately $192,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Price Performance

Shares of NYSE:MAC opened at $21.38 on Friday. Macerich has a 12 month low of $13.82 and a 12 month high of $21.43. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of -27.76, a PEG ratio of 1.47 and a beta of 2.20. The stock’s 50 day moving average price is $19.41 and its 200 day moving average price is $18.40. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.02 and a quick ratio of 1.02.

Macerich (NYSE:MAC) last announced its earnings results on Wednesday, February 18th. The real estate investment trust reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.43 by ($0.50). Macerich had a negative return on equity of 7.32% and a negative net margin of 19.44%.The firm had revenue of $261.70 million for the quarter, compared to the consensus estimate of $260.48 million. During the same period in the previous year, the firm earned $0.47 EPS. Macerich’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities research analysts anticipate that Macerich will post 1.55 earnings per share for the current fiscal year.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.68 annualized dividend and a yield of 3.2%. Macerich’s dividend payout ratio is currently -88.31%.

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.