Analysts Set Macerich Company (The) (NYSE:MAC) PT at $25.73

Shares of Macerich Company (The) (NYSE:MAC) have earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $25.75.

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of Macerich from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $23.00 to $25.00 in a report on Wednesday, June 17th. Griffin Securities set a $26.00 price target on shares of Macerich in a research note on Tuesday. Compass Point reaffirmed a “neutral” rating and set a $26.00 price target (up from $23.00) on shares of Macerich in a report on Friday, June 26th. KeyCorp upped their price objective on shares of Macerich from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Finally, The Goldman Sachs Group increased their price objective on shares of Macerich from $17.00 to $19.00 and gave the company a “sell” rating in a research note on Friday, May 15th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Macerich during the second quarter worth about $1,378,836,000. Deutsche Bank AG acquired a new position in shares of Macerich in the second quarter valued at approximately $138,928,000. Bamco Inc. NY bought a new position in Macerich in the 2nd quarter valued at approximately $125,944,000. Centersquare Investment Management LLC raised its holdings in Macerich by 149.6% in the 4th quarter. Centersquare Investment Management LLC now owns 6,354,661 shares of the real estate investment trust’s stock valued at $117,307,000 after buying an additional 3,808,336 shares during the last quarter. Finally, Norges Bank acquired a new stake in Macerich during the 4th quarter worth approximately $66,924,000. 87.38% of the stock is currently owned by institutional investors.

Macerich Trading Down 0.8%

Shares of MAC opened at $24.47 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.88 and a current ratio of 0.88. Macerich has a 52-week low of $16.03 and a 52-week high of $26.67. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of -37.65, a PEG ratio of 1.74 and a beta of 2.07. The business’s fifty day moving average is $25.05 and its 200-day moving average is $22.13.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $249.71 million for the quarter, compared to the consensus estimate of $239.77 million. Macerich had a negative return on equity of 6.26% and a negative net margin of 16.85%.Macerich’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. Equities analysts anticipate that Macerich will post 1.49 EPS for the current fiscal year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, September 14th will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, September 14th. This represents a $0.68 annualized dividend and a dividend yield of 2.8%. Macerich’s dividend payout ratio is -104.62%.

About Macerich

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.