Macerich Company (The) (NYSE:MAC) Receives Consensus Recommendation of “Hold” from Brokerages

Macerich Company (The) (NYSE:MAC) has received an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $19.95.

A number of research firms have weighed in on MAC. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Macerich in a research note on Wednesday, October 8th. Scotiabank increased their target price on Macerich from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. boosted their price target on Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Wednesday, August 27th. Bank of America upgraded Macerich from a “neutral” rating to a “buy” rating and upped their price target for the stock from $19.00 to $23.00 in a research note on Friday, September 26th. Finally, Evercore ISI lifted their price objective on Macerich from $18.00 to $20.00 and gave the company an “in-line” rating in a research note on Monday, September 15th.

Institutional Investors Weigh In On Macerich

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Triumph Capital Management purchased a new stake in Macerich during the 3rd quarter worth approximately $33,000. Fifth Third Bancorp grew its position in shares of Macerich by 47.7% during the second quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 972 shares in the last quarter. Danske Bank A S bought a new stake in shares of Macerich in the third quarter worth $56,000. Quarry LP increased its stake in shares of 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 buying an additional 3,203 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Macerich by 14.8% in the third quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust’s stock valued at $98,000 after acquiring an additional 691 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Price Performance

Macerich stock opened at $18.70 on Friday. The firm has a market capitalization of $4.79 billion, a PE ratio of -11.76, a P/E/G ratio of 3.68 and a beta of 2.06. Macerich has a 52 week low of $12.48 and a 52 week high of $21.80. The firm’s 50-day simple moving average is $17.35 and its 200 day simple moving average is $17.14. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.97.

Macerich (NYSE:MAC) last released its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $253.26 million during the quarter, compared to analyst estimates of $246.77 million. Macerich had a negative return on equity of 14.21% and a negative net margin of 37.97%.The business’s revenue was up 15.0% compared to the same quarter last year. During the same period last year, the firm earned $0.38 earnings per share. On average, equities research analysts predict that Macerich will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 15th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.68 annualized dividend and a yield of 3.6%. Macerich’s payout ratio is -42.77%.

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.