Macerich (NYSE:MAC) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Macerich from “strong sell” to “hold”, reflecting a slightly more balanced near-term view on the stock.
• Macerich’s latest quarter beat expectations, with EPS of $0.34 and revenue of $241.5 million, while management also pointed to improving leasing and occupancy trends.
• Despite the upgrade, analyst sentiment remains mixed: the stock’s consensus rating is “Hold” with a consensus target price of $20.92, versus a Friday open of $21.85.

Macerich (NYSE:MAC - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "strong sell" rating to a "hold" rating in a report released on Saturday.

A number of other analysts have also recently commented on the company. The Goldman Sachs Group lifted their target price on Macerich from $15.00 to $17.00 and gave the stock a "sell" rating in a research report on Monday, March 2nd. JPMorgan Chase & Co. lifted their target price on Macerich from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 10th. Truist Financial lifted their target price on Macerich from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, January 20th. Evercore set a $22.00 target price on Macerich in a research report on Friday. Finally, Morgan Stanley set a $20.00 target price on Macerich in a research report on Tuesday, April 14th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $20.92.

Macerich Stock Up 2.2%

MAC opened at $21.85 on Friday. The business's 50-day simple moving average is $20.18 and its 200-day simple moving average is $18.87. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.02 and a current ratio of 0.83. Macerich has a one year low of $14.82 and a one year high of $22.56. The stock has a market capitalization of $5.68 billion, a P/E ratio of -30.77, a price-to-earnings-growth ratio of 1.48 and a beta of 2.12.

Macerich (NYSE:MAC - Get Free Report) last posted its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. Macerich had a negative return on equity of 6.95% and a negative net margin of 18.22%.The business had revenue of $241.54 million for the quarter, compared to analysts' expectations of $233.06 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The business's revenue was down 3.1% compared to the same quarter last year. Analysts anticipate that Macerich will post 1.46 EPS for the current year.

Hedge Funds Weigh In On Macerich

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its holdings 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 worth $25,000 after buying an additional 585 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Macerich by 366.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust's stock worth $26,000 after buying an additional 1,095 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Macerich by 80.4% during the fourth quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust's stock worth $28,000 after buying an additional 684 shares during the last quarter. Triumph Capital Management purchased a new position in shares of Macerich during the third quarter worth about $33,000. Finally, Salomon & Ludwin LLC grew its holdings in shares of Macerich by 156.6% during the fourth quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust's stock worth $41,000 after buying an additional 1,336 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company's stock.

Key Macerich News

Here are the key news stories impacting Macerich this week:

• Positive Sentiment: Macerich reported Q1 FFO of $0.34 per share and revenue of $241.5 million, both above Wall Street expectations, signaling better-than-expected operating performance. Article Title
• Positive Sentiment: The company said leasing activity improved and occupancy is rising across its go-forward portfolio, with management targeting 88%-89% physical permanent occupancy and at least 3% go-forward NOI growth in 2026. Article Title
• Positive Sentiment: Macerich bought Annapolis Mall and an adjacent parcel for $272 million, a move that adds a major retail asset and may strengthen its long-term portfolio. Article Title
• Neutral Sentiment: Q1 results also showed the company narrowed its loss, which is constructive but still reflects ongoing profitability pressure. Article Title

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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