LADENBURG THALM/SH SH Initiates Coverage on Macerich (NYSE:MAC)

LADENBURG THALM/SH SH initiated coverage on shares of Macerich (NYSE:MAC - Free Report) in a report issued on Friday, Marketbeat.com reports. The brokerage issued a buy rating and a $25.00 price target on the real estate investment trust's stock.

A number of other equities analysts have also recently commented on MAC. Mizuho raised shares of Macerich from a "neutral" rating to an "outperform" rating and dropped their price objective for the stock from $22.00 to $18.00 in a research note on Tuesday, June 10th. Piper Sandler upgraded shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 target price for the company in a report on Thursday, May 22nd. Morgan Stanley decreased their price objective on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Scotiabank decreased their price objective on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Finally, Truist Financial lifted 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. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.26.

Macerich Price Performance

NYSE:MAC traded up $0.29 during midday trading on Friday, hitting $16.86. The company had a trading volume of 1,175,152 shares, compared to its average volume of 1,922,358. Macerich has a 52-week low of $12.48 and a 52-week high of $22.27. The stock's fifty day moving average price is $16.05 and its 200-day moving average price is $17.11. The company has a market capitalization of $4.26 billion, a PE ratio of 10.23, a P/E/G ratio of 3.23 and a beta of 2.13. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.91.

Macerich (NYSE:MAC - Get Free Report) last announced 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. Macerich had a negative net margin of 12.26% and a negative return on equity of 4.37%. The business had revenue of $249.22 million for the quarter, compared to analysts' expectations of $221.61 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. The business's revenue was up 19.3% compared to the same quarter last year. As a group, research analysts expect that Macerich will post 1.55 earnings per share for the current year.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.03%. Macerich's payout ratio is -158.14%.

Hedge Funds Weigh In On Macerich

Several institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of Macerich during the 4th quarter worth $30,000. Lazard Asset Management LLC acquired a new stake in Macerich in the 4th quarter valued at about $45,000. State of Wyoming acquired a new stake in Macerich in the 4th quarter valued at about $55,000. Fifth Third Bancorp raised its position in shares of Macerich by 47.7% in the second quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 972 shares during the last quarter. Finally, Quarry LP raised its position in shares of Macerich by 2,691.6% in the first quarter. Quarry LP now owns 3,322 shares of the real estate investment trust's stock valued at $57,000 after buying an additional 3,203 shares during the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

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.