Macerich Company (The) (NYSE:MAC) Receives $18.78 Average PT from Brokerages

Shares of Macerich Company (The) (NYSE:MAC - Get Free Report) have been assigned a consensus recommendation of "Hold" from the twelve research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $18.78.

A number of equities analysts have commented on MAC shares. The Goldman Sachs Group decreased their target price on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday, March 10th. Piper Sandler raised Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price target on the stock in a report on Thursday, May 22nd. Mizuho upgraded Macerich from a "neutral" rating to an "outperform" rating and reduced their price objective for the company from $22.00 to $18.00 in a research report on Tuesday, June 10th. Morgan Stanley dropped their target price on Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. Finally, Truist Financial raised their target price on Macerich from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, June 9th.

Hedge Funds Weigh In On Macerich

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in shares of Macerich in the 4th quarter worth approximately $30,000. Lazard Asset Management LLC acquired a new position in shares of Macerich during the fourth quarter valued at approximately $45,000. State of Wyoming bought a new stake in Macerich during the fourth quarter worth approximately $55,000. Quarry LP lifted its position in Macerich by 2,691.6% in the first quarter. Quarry LP now owns 3,322 shares of the real estate investment trust's stock worth $57,000 after purchasing an additional 3,203 shares during the period. Finally, Signaturefd LLC boosted its stake in Macerich by 34.9% during the 1st quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 862 shares in the last quarter. Institutional investors own 87.38% of the company's stock.

Macerich Stock Performance

MAC traded up $0.21 during trading hours on Friday, hitting $16.02. 1,502,890 shares of the stock were exchanged, compared to its average volume of 1,943,967. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of -37.24, a price-to-earnings-growth ratio of 5.17 and a beta of 2.17. The stock has a 50-day simple moving average of $15.31 and a 200-day simple moving average of $17.85. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.09 and a quick ratio of 1.09. 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 results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. Macerich had a negative net margin of 12.26% and a negative return on equity of 4.37%. The company had revenue of $249.22 million for the quarter, compared to the consensus estimate of $221.61 million. During the same period last year, the firm posted $0.33 EPS. The company's revenue for the quarter was up 19.3% on a year-over-year basis. Analysts anticipate that Macerich will post 1.55 earnings per share for the current year.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Tuesday, June 3rd. Macerich's dividend payout ratio is currently -158.14%.

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.