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

Key Points

• Macerich Company (NYSE:MAC) has received a consensus recommendation of "Hold" from fourteen analysts, with three issuing sell ratings, five holding, and six giving buy ratings.
• The stock's average 12-month price target among analysts is $20.11, while it recently opened at $17.25.
• Macerich declared a quarterly dividend of $0.17 per share, resulting in an annualized dividend yield of 3.9%.

Shares of Macerich Company (The) (NYSE:MAC - Get Free Report) have received a consensus rating of "Hold" from the fourteen ratings firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $20.1077.

A number of equities analysts have issued reports on MAC shares. Bank of America raised shares of Macerich from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $19.00 to $23.00 in a report on Friday, September 26th. Wall Street Zen downgraded shares of Macerich from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Evercore ISI lifted their price objective on shares of Macerich from $18.00 to $20.00 and gave the stock an "in-line" rating in a report on Monday, September 15th. LADENBURG THALM/SH SH started coverage on shares of Macerich in a report on Friday, July 18th. They set a "buy" rating and a $25.00 price objective on the stock. Finally, Scotiabank lifted their price objective on shares of Macerich from $16.00 to $18.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th.

Macerich Stock Performance

Shares of MAC stock opened at $17.25 on Friday. The firm has a market capitalization of $4.36 billion, a PE ratio of -9.86, a price-to-earnings-growth ratio of 2.98 and a beta of 2.23. The firm has a fifty day simple moving average of $17.68 and a two-hundred day simple moving average of $16.42. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.00. Macerich has a 12 month low of $12.48 and a 12 month high of $22.27.

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

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, September 9th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, September 9th. Macerich's payout ratio is -38.86%.

Hedge Funds Weigh In On Macerich

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its holdings in shares of Macerich by 47.7% in the 2nd quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust's stock worth $49,000 after buying an additional 972 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Macerich by 34.9% in 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 last quarter. Quarry LP boosted its holdings in shares of Macerich by 2,691.6% in 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 last quarter. Archer Investment Corp purchased a new position in shares of Macerich in the 1st quarter worth about $98,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Macerich by 14.8% in the 3rd quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust's stock worth $98,000 after buying an additional 691 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

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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