Macerich Company (The) (NYSE:MAC) Receives Consensus Rating of “Hold” from Analysts

Shares of Macerich Company (The) (NYSE:MAC) have earned a consensus rating of “Hold” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $19.40.

MAC has been the topic of several analyst reports. Evercore ISI upped their target price on Macerich from $18.00 to $20.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Truist Financial dropped their price objective on Macerich from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Macerich in a research note on Wednesday, October 8th. Bank of America raised shares of 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 report on Friday, September 26th. Finally, Scotiabank lifted their price objective on shares of Macerich from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, November 13th.

Macerich Stock Performance

Shares of MAC opened at $18.36 on Thursday. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of -11.54, a PEG ratio of 3.64 and a beta of 2.06. Macerich has a 12 month low of $12.48 and a 12 month high of $21.12. The firm has a fifty day simple moving average of $17.82 and a 200 day simple moving average of $17.46. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.97.

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

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were issued a dividend of $0.17 per share. The ex-dividend date was Monday, December 15th. This represents a $0.68 dividend on an annualized basis and a yield of 3.7%. Macerich’s dividend payout ratio (DPR) is presently -42.77%.

Institutional Trading of Macerich

A number of hedge funds have recently made changes to their positions in MAC. Triumph Capital Management acquired a new position in shares of Macerich during the 3rd quarter worth approximately $33,000. Fifth Third Bancorp boosted its position in 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 purchasing an additional 972 shares during the period. Danske Bank A S acquired a new position in shares of Macerich in the third quarter valued at $56,000. Quarry LP raised its position 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 valued at $57,000 after purchasing an additional 3,203 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Macerich by 14.8% during the 3rd quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 691 shares during the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Company Profile

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.