The Macerich Company (NYSE:MAC) Given Consensus Rating of "Hold" by Brokerages

The Macerich Company (NYSE:MAC - Get Free Report) has received a consensus rating of "Hold" from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $18.78.

A number of equities analysts recently commented on the stock. Piper Sandler raised shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price target for the company in a research note on Thursday, May 22nd. Scotiabank dropped their target price on Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a report on Monday, March 10th. Truist Financial raised their price target on Macerich from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Finally, Morgan Stanley cut their price objective 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.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its position in Macerich by 314.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock valued at $69,000 after purchasing an additional 2,630 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Macerich by 20.4% during the fourth quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust's stock valued at $893,000 after buying an additional 7,608 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Macerich by 2.2% in the 4th quarter. New York State Teachers Retirement System now owns 183,508 shares of the real estate investment trust's stock valued at $3,655,000 after buying an additional 3,979 shares in the last quarter. FIL Ltd grew its position in shares of Macerich by 4.7% in the 4th quarter. FIL Ltd now owns 1,158,518 shares of the real estate investment trust's stock worth $23,078,000 after buying an additional 51,994 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Macerich by 7.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,162,987 shares of the real estate investment trust's stock worth $43,087,000 after acquiring an additional 142,566 shares in the last quarter. 87.38% of the stock is owned by institutional investors.

Macerich Price Performance

Shares of NYSE:MAC opened at $15.72 on Friday. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 40.31, a P/E/G ratio of 0.71 and a beta of 2.17. Macerich has a fifty-two week low of $12.48 and a fifty-two week high of $22.27. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a fifty day moving average price of $15.21 and a 200 day moving average price of $17.93.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The firm had revenue of $249.22 million during the quarter, compared to analyst estimates of $221.61 million. During the same quarter last year, the business posted $0.33 earnings per share. The business's quarterly revenue was up 19.3% compared to the same quarter last year. As a group, sell-side analysts expect that Macerich will post 1.55 earnings per share for the current fiscal year.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 4.33%. Macerich's dividend payout ratio (DPR) is presently -158.14%.

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.

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