The Macerich Company (NYSE:MAC) Receives Consensus Rating of "Hold" from Brokerages

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 company, Marketbeat reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $18.95.

Several equities analysts have recently issued reports on MAC shares. Scotiabank reduced their target price on Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their target price on Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a report on Monday, March 10th. Morgan Stanley reduced their target price on Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Truist Financial raised Macerich from a "hold" rating to a "buy" rating and set a $19.00 target price for the company in a report on Thursday, April 10th. Finally, The Goldman Sachs Group reduced their target price on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a report on Monday, March 10th.

Hedge Funds Weigh In On Macerich

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in Macerich during the fourth quarter valued at $30,000. Lazard Asset Management LLC bought a new position in Macerich during the fourth quarter valued at $45,000. Blue Trust Inc. grew its holdings in Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 1,064 shares during the period. State of Wyoming bought a new position in Macerich during the fourth quarter valued at $55,000. Finally, Quarry LP grew its holdings in Macerich by 2,691.6% during the first quarter. Quarry LP now owns 3,322 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 3,203 shares during the period. 87.38% of the stock is owned by institutional investors.

Macerich Stock Down 2.2%

Shares of Macerich stock traded down $0.34 on Wednesday, hitting $14.89. The company had a trading volume of 1,240,151 shares, compared to its average volume of 1,923,299. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 38.17, a P/E/G ratio of 0.71 and a beta of 2.13. Macerich has a 1 year low of $12.48 and a 1 year high of $22.27. The stock has a 50 day moving average of $15.40 and a 200-day moving average of $18.33. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92.

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

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Tuesday, June 3rd. Macerich's dividend payout ratio (DPR) is -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.