Macerich (NYSE:MAC) Stock Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Macerich's stock crossed above its 200‑day moving average of $18.67, trading as high as $21.72 and last near $21.60 on heavy volume — a short‑term bullish technical signal.
• The analyst mix is mixed: seven Buy, three Hold and three Sell ratings produce a consensus "Hold" and a $20.77 average price target, though several firms have recently raised targets and ratings.
• Fundamentals are concerning — the company missed Q4 EPS (reported −$0.07 vs. $0.43 est.), has negative net margin and ROE and a negative P/E, but it pays a quarterly dividend (annualized yield ~3.1%) and has ~87% institutional ownership.

Macerich Company (The) (NYSE:MAC - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $18.67 and traded as high as $21.72. Macerich shares last traded at $21.5960, with a volume of 3,578,341 shares trading hands.

Analyst Ratings Changes

MAC has been the subject of several recent analyst reports. Truist Financial boosted their target price on Macerich from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, January 20th. Mizuho set a $21.00 price objective on shares of Macerich in a research report on Friday, January 9th. KeyCorp set a $25.00 target price on shares of Macerich and gave the company an "overweight" rating in a report on Monday, February 23rd. Scotiabank upgraded shares of Macerich from a "sector perform" rating to a "sector outperform" rating and lifted their price target for the stock from $19.00 to $22.00 in a research note on Monday, March 30th. Finally, The Goldman Sachs Group boosted their price target on shares of Macerich from $15.00 to $17.00 and gave the company a "sell" rating in a research report on Monday, March 2nd. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $20.77.

Macerich Stock Performance

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 50-day simple moving average of $19.94 and a 200 day simple moving average of $18.67. The company has a market cap of $5.62 billion, a price-to-earnings ratio of -28.05, a price-to-earnings-growth ratio of 1.47 and a beta of 2.20.

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

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were paid a $0.17 dividend. The ex-dividend date was Monday, March 16th. This represents a $0.68 dividend on an annualized basis and a yield of 3.1%. Macerich's payout ratio is currently -88.31%.

Institutional Investors Weigh In On Macerich

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in Macerich by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,521,554 shares of the real estate investment trust's stock valued at $209,692,000 after acquiring an additional 4,868,844 shares during the period. Centersquare Investment Management LLC raised its stake in Macerich by 149.6% during the 4th quarter. Centersquare Investment Management LLC now owns 6,354,661 shares of the real estate investment trust's stock valued at $117,307,000 after acquiring an additional 3,808,336 shares during the last quarter. Norges Bank acquired a new stake in Macerich during the 4th quarter worth approximately $66,924,000. Wellington Management Group LLP grew its stake in shares of Macerich by 139.8% in the 4th quarter. Wellington Management Group LLP now owns 3,675,803 shares of the real estate investment trust's stock valued at $67,855,000 after purchasing an additional 2,142,737 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Macerich by 435.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,724,727 shares of the real estate investment trust's stock valued at $31,390,000 after purchasing an additional 1,402,627 shares during the last quarter. Institutional investors and hedge funds 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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