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 brokerages, with ratings consisting of two sells, six holds, and five buys.
• The average twelve-month price target among analysts for Macerich is $19.80, while the stock is currently trading around $17.17.
• The company recently announced a $0.17 quarterly dividend, which represents an annualized dividend yield of 4.0%.

Shares of Macerich Company (The) (NYSE:MAC - Get Free Report) have been given a consensus rating of "Hold" by the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $19.80.

MAC has been the topic of several research analyst reports. Mizuho raised Macerich from a "neutral" rating to an "outperform" rating and dropped their price objective for the stock from $22.00 to $18.00 in a research note on Tuesday, June 10th. Scotiabank increased their target price on Macerich from $16.00 to $18.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. Wall Street Zen cut Macerich from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Truist Financial increased their target price on Macerich from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. increased their target price on Macerich from $18.00 to $19.00 and gave the stock an "underweight" rating in a report on Wednesday, August 27th.

Macerich Stock Performance

MAC stock opened at $17.17 on Tuesday. The company has a market cap of $4.34 billion, a P/E ratio of -9.81, a price-to-earnings-growth ratio of 3.37 and a beta of 2.27. Macerich has a twelve month low of $12.48 and a twelve month high of $22.27. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.00. The business's fifty day moving average is $17.50 and its 200-day moving average is $16.37.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). The business had revenue of $249.79 million for the quarter, compared to analyst estimates of $245.19 million. Macerich had a negative return on equity of 15.15% and a negative net margin of 41.33%.The business's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. Equities research analysts forecast that Macerich will post 1.55 EPS for the current year.

Macerich Announces Dividend

The business 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 $0.17 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $0.68 annualized dividend and a dividend yield of 4.0%. Macerich's dividend payout ratio (DPR) is presently -38.86%.

Hedge Funds Weigh In On Macerich

Several hedge funds have recently modified their holdings of MAC. State Street Corp grew its holdings in Macerich by 2.4% during the second quarter. State Street Corp now owns 15,162,075 shares of the real estate investment trust's stock worth $245,322,000 after purchasing an additional 351,907 shares during the period. JPMorgan Chase & Co. lifted its position in Macerich by 11.6% during the second quarter. JPMorgan Chase & Co. now owns 6,652,710 shares of the real estate investment trust's stock worth $107,641,000 after acquiring an additional 694,103 shares during the last quarter. Geode Capital Management LLC lifted its position in Macerich by 2.3% during the second quarter. Geode Capital Management LLC now owns 6,498,679 shares of the real estate investment trust's stock worth $105,160,000 after acquiring an additional 145,906 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Macerich by 40.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,130,323 shares of the real estate investment trust's stock worth $105,258,000 after acquiring an additional 1,754,466 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Macerich by 3.6% during the first quarter. Northern Trust Corp now owns 4,357,185 shares of the real estate investment trust's stock worth $74,813,000 after acquiring an additional 151,295 shares during the last quarter. 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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