The Macerich Company (NYSE:MAC) Receives $18.95 Consensus Target Price from Analysts

Shares of The Macerich Company (NYSE:MAC - Get Free Report) have been assigned a consensus rating of "Hold" from the twelve brokerages that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $18.95.

Several equities research analysts have issued reports on MAC shares. Scotiabank cut their target price on Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Piper Sandler dropped their price target on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, February 28th. Morgan Stanley decreased their price objective on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. JPMorgan Chase & Co. cut their target price on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research report on Monday, March 10th. Finally, Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and boosted their price objective for the company from $19.00 to $23.00 in a report on Thursday, January 2nd.

Hedge Funds Weigh In On Macerich

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new stake in Macerich during the fourth quarter worth approximately $30,000. Lazard Asset Management LLC acquired a new stake in Macerich in the fourth quarter valued at approximately $45,000. Blue Trust Inc. lifted its position in shares of Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 1,064 shares in the last quarter. State of Wyoming acquired a new stake in Macerich during the 4th quarter valued at $55,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Macerich by 314.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock worth $69,000 after buying an additional 2,630 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company's stock.

Macerich Trading Up 2.1 %

Shares of Macerich stock traded up $0.30 during mid-day trading on Friday, hitting $14.96. The stock had a trading volume of 131,080 shares, compared to its average volume of 1,970,165. The firm has a 50-day moving average of $16.18 and a two-hundred day moving average of $18.70. The firm has a market cap of $3.78 billion, a P/E ratio of 38.36, a price-to-earnings-growth ratio of 0.71 and a beta of 2.17. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. Macerich has a 12-month low of $12.48 and a 12-month high of $22.27.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd will be issued a $0.17 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.54%. Macerich's dividend payout ratio is presently -86.08%.

About Macerich

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.