Macerich Company (The) (NYSE:MAC) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts give Macerich a “Moderate Buy” consensus: Eight analysts rate it a buy, one a strong buy, six a hold and one a sell. The average 12-month price target is $25.73, compared with a recent price of $24.69.
• Macerich reported quarterly revenue of $249.71 million, exceeding estimates, but posted an adjusted loss of $0.10 per share versus the expected $0.05 loss. Analysts project full-year earnings of $1.49 per share.
• The REIT declared a quarterly dividend of $0.17 per share, equal to $0.68 annually and a 2.8% yield. Institutional investors own 87.38% of the company’s shares.

Macerich Company (The) (NYSE:MAC - Get Free Report) has earned an average rating of "Moderate Buy" from the sixteen ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $25.7333.

Several research firms have weighed in on MAC. JPMorgan Chase & Co. upgraded shares of Macerich from an "underweight" rating to a "neutral" rating and raised their target price for the company from $23.00 to $25.00 in a report on Wednesday, June 17th. Scotiabank upped their price target on shares of Macerich from $24.00 to $27.00 and gave the company a "sector outperform" rating in a report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Macerich from a "hold" rating to a "buy" rating and increased their price target for the company from $20.00 to $27.00 in a research report on Tuesday, June 2nd. Evercore set a $25.00 price objective on shares of Macerich in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded Macerich from a "sell" rating to a "hold" rating in a research report on Saturday, June 27th.

Institutional Trading of Macerich

Institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in shares of Macerich by 76.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 585 shares during the last quarter. Global Retirement Partners LLC raised its stake in Macerich by 366.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 1,095 shares during the last quarter. Hantz Financial Services Inc. raised its stake in Macerich by 80.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 684 shares during the last quarter. Triumph Capital Management purchased a new position in Macerich in the 3rd quarter valued at about $33,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Macerich in the 2nd quarter valued at about $36,000. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Stock Up 0.2%

MAC opened at $24.69 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $7.00 billion, a price-to-earnings ratio of -37.98, a PEG ratio of 1.74 and a beta of 2.07. Macerich has a one year low of $16.03 and a one year high of $26.67. The business's fifty day moving average is $25.01 and its two-hundred day moving average is $21.99.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). Macerich had a negative net margin of 16.85% and a negative return on equity of 6.26%. The firm had revenue of $249.71 million during the quarter, compared to analysts' expectations of $239.77 million. During the same quarter in the prior year, the business earned $0.33 EPS. The company's quarterly revenue was up .0% compared to the same quarter last year. Analysts anticipate that Macerich will post 1.49 EPS for the current fiscal year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Monday, September 14th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.68 annualized dividend and a yield of 2.8%. Macerich's dividend payout ratio (DPR) is presently -104.62%.

Macerich Company Profile

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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