Macerich Company (The) (NYSE:MAC) Given Consensus Recommendation of "Hold" by Brokerages

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

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

Hedge Funds Weigh In On Macerich

A number of hedge funds have recently made changes to their positions in MAC. Quantbot Technologies LP purchased a new position in shares of Macerich in the 4th quarter valued at $30,000. Lazard Asset Management LLC purchased a new position in shares of Macerich in the 4th quarter valued at $45,000. State of Wyoming purchased a new position in shares of Macerich in the 4th quarter valued at $55,000. Signaturefd LLC increased its stake in Macerich by 34.9% during the 1st 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 increased its stake in Macerich by 2,691.6% during the 1st 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 Price Performance

Shares of Macerich stock traded down $0.13 on Thursday, hitting $16.27. The company's stock had a trading volume of 1,149,908 shares, compared to its average volume of 1,936,890. Macerich has a 52-week low of $12.48 and a 52-week high of $22.27. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.91. The firm has a fifty day moving average price of $15.90 and a 200-day moving average price of $17.26. The company has a market capitalization of $4.11 billion, a P/E ratio of -37.82, a price-to-earnings-growth ratio of 5.33 and a beta of 2.13.

Macerich (NYSE:MAC - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $0.33 EPS for the quarter, topping 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 business had revenue of $249.22 million for the quarter, compared to analyst estimates of $221.61 million. During the same period in the previous year, the firm earned $0.33 EPS. The business's revenue for the quarter was up 19.3% compared to the same quarter last year. On average, equities research analysts expect that Macerich will post 1.55 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date was Tuesday, June 3rd. Macerich's dividend payout ratio is presently -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.