Macerich Company (The) (NYSE:MAC) Receives Average Recommendation of "Hold" from Analysts

Shares of Macerich Company (The) (NYSE:MAC - Get Free Report) have been assigned an average recommendation of "Hold" from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $18.78.

MAC has been the subject of several analyst reports. Mizuho upgraded shares of Macerich from a "neutral" rating to an "outperform" rating and decreased their target price for the company from $22.00 to $18.00 in a research note on Tuesday, June 10th. Scotiabank reduced their price objective 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. Truist Financial upped their price objective 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. 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 research report on Thursday, May 22nd. Finally, Morgan Stanley reduced 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.

Macerich Stock Performance

Shares of MAC traded down $0.15 during trading hours on Thursday, hitting $16.24. The stock had a trading volume of 392,951 shares, compared to its average volume of 1,933,408. 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 has a 50-day moving average price of $15.88 and a 200 day moving average price of $17.31. Macerich has a fifty-two week low of $12.48 and a fifty-two week high of $22.27. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of -37.66, a PEG ratio of 5.34 and a beta of 2.13.

Macerich (NYSE:MAC - Get Free Report) last posted its earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share (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 analysts' expectations of $221.61 million. During the same period in the previous year, the business posted $0.33 EPS. The business's revenue was up 19.3% compared to the same quarter last year. As a group, research analysts anticipate that Macerich will post 1.55 EPS for the current year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Tuesday, June 3rd. Macerich's dividend payout ratio is currently -158.14%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MAC. Quantbot Technologies LP purchased a new position in Macerich during the fourth quarter worth about $30,000. Lazard Asset Management LLC purchased a new position in Macerich during the fourth quarter worth about $45,000. State of Wyoming purchased a new position in Macerich during the fourth quarter worth about $55,000. Signaturefd LLC boosted its stake in Macerich by 34.9% during the first quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust's stock worth $57,000 after buying an additional 862 shares during the period. Finally, Quarry LP boosted its stake in Macerich by 2,691.6% during the first quarter. Quarry LP now owns 3,322 shares of the real estate investment trust's stock worth $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 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.