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

Key Points

• Macerich Company (NYSE:MAC) has received a consensus rating of "Hold" from thirteen ratings firms, with two sell ratings, six holds, and five buy ratings.
• The average price target for Macerich among analysts is $19.26, with recent changes in ratings affecting targets between $16.00 and $25.00.
• The company has announced a quarterly dividend of $0.17 per share, with a dividend yield of 4.2%, despite a negative dividend payout ratio of -158.14%.

Macerich Company (The) (NYSE:MAC - Get Free Report) has been assigned a consensus rating of "Hold" from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $19.26.

A number of equities research analysts recently weighed in on the company. Scotiabank lowered their price target on Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Truist Financial upped their target price on Macerich from $19.00 to $21.00 and gave the company a "buy" rating in a report on Monday, June 9th. Mizuho upgraded Macerich from a "neutral" rating to an "outperform" rating and dropped their price target for the company from $22.00 to $18.00 in a research report on Tuesday, June 10th. Piper Sandler raised shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price objective on the stock in a research note on Thursday, May 22nd. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Macerich in a report on Friday, July 18th. They set a "buy" rating and a $25.00 target price for the company.

Macerich Trading Down 3.4%

Shares of MAC stock opened at $16.14 on Monday. The business's fifty day moving average price is $16.33 and its 200 day moving average price is $16.92. The firm has a market capitalization of $4.08 billion, a PE ratio of -37.53, a P/E/G ratio of 3.12 and a beta of 2.22. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.09 and a quick ratio of 1.09. Macerich has a 1-year low of $12.48 and a 1-year high of $22.27.

Macerich (NYSE:MAC - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $221.61 million. During the same period in the prior year, the company posted $0.33 EPS. The business's revenue for the quarter was up 19.3% on a year-over-year basis. As a group, sell-side analysts forecast that Macerich will post 1.55 EPS for the current fiscal year.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 9th will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, September 9th. This represents a $0.68 annualized dividend and a dividend yield of 4.2%. Macerich's dividend payout ratio (DPR) is -158.14%.

Institutional Investors Weigh In On Macerich

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC acquired a new stake in Macerich in the 4th quarter worth about $45,000. Fifth Third Bancorp boosted its position in shares of Macerich by 47.7% in the second quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 972 shares during the last quarter. State of Wyoming acquired a new position in Macerich during the fourth quarter worth approximately $55,000. Signaturefd LLC raised 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 purchasing an additional 862 shares during the period. Finally, Quarry LP raised 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 purchasing 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.

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