Macerich Company (The) (NYSE:MAC) Given Average Rating of "Hold" by Brokerages

Key Points

• Analysts give Macerich an average rating of "Hold" across 13 firms (3 sell, 3 hold, 7 buy), with a mean 12‑month price target of $20.77.
• Macerich missed last quarter's EPS (reported -$0.07 vs. $0.43 expected), posted negative net margin and ROE, and saw revenue decline 4.4% year‑over‑year; analysts project $1.46 EPS for the current year.
• The REIT declared a quarterly dividend of $0.17 ($0.68 annualized, ~3.2% yield) and trades around $21.50 with a $5.59 billion market cap and a 52‑week range of $14.62–$22.56, while institutional investors hold roughly 87.4% of shares.

Shares of Macerich Company (The) (NYSE:MAC - Get Free Report) have received an average recommendation of "Hold" from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $20.7692.

A number of analysts have recently issued reports on MAC shares. The Goldman Sachs Group raised their price target on shares of Macerich from $15.00 to $17.00 and gave the stock a "sell" rating in a report on Monday, March 2nd. JPMorgan Chase & Co. increased their price objective on Macerich from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 10th. Scotiabank raised Macerich from a "sector perform" rating to a "sector outperform" rating and raised their target price for the stock from $19.00 to $22.00 in a research note on Monday, March 30th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Macerich in a research note on Thursday, January 22nd. Finally, Truist Financial increased their price target on Macerich from $19.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, January 20th.

Macerich Stock Down 0.0%

NYSE MAC opened at $21.50 on Wednesday. The business's fifty day simple moving average is $20.12 and its 200-day simple moving average is $18.81. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.01. The firm has a market cap of $5.59 billion, a PE ratio of -27.92, a P/E/G ratio of 1.49 and a beta of 2.12. Macerich has a 52 week low of $14.62 and a 52 week high of $22.56.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.50). Macerich had a negative net margin of 19.44% and a negative return on equity of 7.32%. The firm had revenue of $261.70 million during the quarter, compared to analysts' expectations of $260.48 million. During the same period in the prior year, the company posted $0.47 EPS. The company's revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that Macerich will post 1.46 earnings per share for the current year.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, June 15th. Macerich's dividend payout ratio (DPR) is currently -88.31%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MAC. Fifth Third Bancorp boosted its position in Macerich by 14.7% in the 1st quarter. Fifth Third Bancorp now owns 3,666 shares of the real estate investment trust's stock valued at $69,000 after buying an additional 471 shares during the period. HighTower Advisors LLC grew its stake in Macerich by 1.2% during the 4th quarter. HighTower Advisors LLC now owns 46,116 shares of the real estate investment trust's stock worth $851,000 after purchasing an additional 530 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Macerich by 76.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 585 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Macerich by 2.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 24,659 shares of the real estate investment trust's stock worth $455,000 after purchasing an additional 622 shares during the period. Finally, Bessemer Group Inc. raised its position in Macerich by 1.7% in the 3rd quarter. Bessemer Group Inc. now owns 37,217 shares of the real estate investment trust's stock valued at $678,000 after purchasing an additional 627 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company's stock.

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.

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