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

Shares of Macerich Company (The) (NYSE:MAC) have received an average rating of “Hold” from the fourteen ratings firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $20.4615.

MAC has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Tuesday, March 10th. Citigroup raised their price objective on shares of Macerich from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Truist Financial upped their target price on shares of Macerich from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. KeyCorp set a $25.00 price target on Macerich and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Macerich in a report on Thursday, January 22nd.

Macerich Stock Performance

Shares of MAC opened at $18.47 on Tuesday. The business has a 50-day simple moving average of $19.04 and a two-hundred day simple moving average of $18.20. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.01. Macerich has a 52 week low of $12.48 and a 52 week high of $20.93. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of -23.98, a PEG ratio of 1.25 and a beta of 2.17.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Wednesday, February 18th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.50). The company had revenue of $261.70 million for the quarter, compared to analysts’ expectations of $260.48 million. Macerich had a negative net margin of 19.44% and a negative return on equity of 7.32%. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 earnings per share. On average, analysts expect that Macerich will post 1.55 EPS for the current year.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.68 dividend on an annualized basis and a yield of 3.7%. Macerich’s payout ratio is currently -88.31%.

Institutional Investors Weigh In On Macerich

Institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its position in shares of Macerich by 1.2% during the 4th quarter. HighTower Advisors LLC now owns 46,116 shares of the real estate investment trust’s stock valued at $851,000 after buying an additional 530 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Macerich by 76.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 585 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Macerich by 2.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 24,659 shares of the real estate investment trust’s stock worth $455,000 after purchasing an additional 622 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Macerich by 1.7% during the third quarter. Bessemer Group Inc. now owns 37,217 shares of the real estate investment trust’s stock worth $678,000 after purchasing an additional 627 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its stake in shares of Macerich by 5.5% during the fourth quarter. Osaic Holdings Inc. now owns 12,116 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 637 shares during the period. 87.38% of the stock is owned by hedge funds and other institutional investors.

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.