Macerich - MAC Stock Forecast, Price & News

Macerich is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence in the West Coast, Arizona, Chicago and the Metro New York to Washington, DC corridor. A recognized leader in sustainability, Macerich has achieved the #1 GRESB ranking in the North American Retail Sector for five straight years (2015 - 2019).

Analysts Set New Price Targets

Several research analysts recently commented on MAC shares. Mizuho reduced their price target on Macerich from $18.00 to $10.00 and set an "underperform" rating for the company in a research report on Wednesday, August 3rd. Jefferies Financial Group reduced their price target on Macerich from $15.00 to $9.00 and set a "hold" rating for the company in a research report on Thursday, June 30th. Truist Financial cut their price objective on Macerich from $18.00 to $14.00 and set a "hold" rating for the company in a research report on Tuesday, June 21st. Compass Point cut their price objective on Macerich from $27.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday, June 22nd. Finally, StockNews.com cut Macerich from a "hold" rating to a "sell" rating in a report on Wednesday, August 3rd. Seven investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $15.41.

Macerich Stock Performance

Shares of MAC opened at $11.50 on Friday. The company has a 50-day simple moving average of $9.82 and a two-hundred day simple moving average of $12.75. Macerich has a one year low of $8.42 and a one year high of $22.88. The firm has a market capitalization of $2.47 billion, a PE ratio of 63.89, a price-to-earnings-growth ratio of 1.36 and a beta of 1.97. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.21 and a quick ratio of 1.27.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Friday, August 19th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date of this dividend is Thursday, August 18th. Macerich's dividend payout ratio (DPR) is 333.33%.

Insiders Place Their Bets

In other news, President Edward C. Coppola purchased 40,000 shares of the business's stock in a transaction that occurred on Friday, June 10th. The shares were bought at an average cost of $10.28 per share, for a total transaction of $411,200.00. Following the acquisition, the president now owns 515,739 shares of the company's stock, valued at approximately $5,301,796.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Edward C. Coppola purchased 60,000 shares of the company's stock in a transaction that occurred on Thursday, June 30th. The shares were bought at an average price of $8.75 per share, for a total transaction of $525,000.00. Following the completion of the transaction, the president now owns 575,739 shares in the company, valued at $5,037,716.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Edward C. Coppola purchased 40,000 shares of the firm's stock in a transaction dated Friday, June 10th. The stock was acquired at an average cost of $10.28 per share, for a total transaction of $411,200.00. Following the completion of the purchase, the president now owns 515,739 shares of the company's stock, valued at approximately $5,301,796.92. The disclosure for this purchase can be found here. Insiders have purchased a total of 125,000 shares of company stock worth $1,173,450 in the last 90 days. 1.77% of the stock is currently owned by corporate insiders.