Brokerages Set Macerich Company (The) (NYSE:MAC) PT at $18.78

Shares of Macerich Company (The) (NYSE:MAC - Get Free Report) have been given a consensus rating of "Hold" by the twelve research firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $18.78.

Several brokerages have commented on MAC. Piper Sandler raised shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price target for the company in a report on Thursday, May 22nd. Mizuho upgraded shares of Macerich from a "neutral" rating to an "outperform" rating and cut their target price for the stock from $22.00 to $18.00 in a research report on Tuesday, June 10th. Truist Financial upped their target price on shares of Macerich from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Scotiabank cut their target price on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Finally, Morgan Stanley cut their target price on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st.

Hedge Funds Weigh In On Macerich

A number of hedge funds have recently modified their holdings of MAC. Quantbot Technologies LP purchased a new position in shares of Macerich in the fourth quarter valued at about $30,000. Lazard Asset Management LLC purchased a new position in shares of Macerich in the fourth quarter valued at about $45,000. State of Wyoming purchased a new position in shares of Macerich during the fourth quarter valued at about $55,000. Signaturefd LLC increased its position in shares of Macerich by 34.9% during the first quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust's stock valued at $57,000 after buying an additional 862 shares during the period. Finally, Quarry LP increased its position in shares of Macerich by 2,691.6% during 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 period. Hedge funds and other institutional investors own 87.38% of the company's stock.

Macerich Stock Performance

Macerich stock traded up $0.07 during mid-day trading on Thursday, reaching $16.40. The company's stock had a trading volume of 1,774,514 shares, compared to its average volume of 1,937,697. Macerich has a 12-month low of $12.48 and a 12-month high of $22.27. The company has a market capitalization of $4.14 billion, a P/E ratio of -38.14, a PEG ratio of 5.29 and a beta of 2.13. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.09 and a current ratio of 1.09. The firm's fifty day moving average price is $15.85 and its two-hundred day moving average price is $17.34.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $0.33 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $249.22 million during the quarter, compared to the consensus estimate of $221.61 million. During the same period last year, the firm earned $0.33 EPS. The business's quarterly revenue was up 19.3% compared to the same quarter last year. Sell-side analysts predict that Macerich will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Tuesday, June 3rd. Macerich's payout ratio is -158.14%.

Macerich Company Profile

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.