Analysts Set The Macerich Company (NYSE:MAC) Price Target at $14.71

Shares of The Macerich Company (NYSE:MACGet Free Report) have been assigned a consensus rating of “Reduce” from the seven ratings firms that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $14.71.

A number of brokerages have weighed in on MAC. Mizuho dropped their target price on shares of Macerich from $17.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, May 1st. StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Compass Point dropped their target price on shares of Macerich from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Truist Financial reaffirmed a “hold” rating and issued a $16.00 target price on shares of Macerich in a research note on Monday, March 25th. Finally, Piper Sandler downgraded shares of Macerich from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $17.00 to $11.00 in a research note on Wednesday, May 1st.

View Our Latest Report on MAC

Macerich Price Performance

NYSE:MAC opened at $14.92 on Wednesday. The firm has a market cap of $3.22 billion, a PE ratio of -9.56, a price-to-earnings-growth ratio of 3.07 and a beta of 2.43. Macerich has a 12 month low of $9.21 and a 12 month high of $17.69. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.81. The company’s 50-day moving average price is $15.43 and its two-hundred day moving average price is $15.50.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date was Friday, May 17th. Macerich’s dividend payout ratio (DPR) is -43.59%.

Insider Buying and Selling

In other Macerich news, CFO Scott W. Kingsmore purchased 6,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was acquired at an average cost of $16.06 per share, with a total value of $96,360.00. Following the completion of the purchase, the chief financial officer now directly owns 42,310 shares in the company, valued at approximately $679,498.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Scott W. Kingsmore bought 6,000 shares of the stock in a transaction on Thursday, May 9th. The stock was purchased at an average price of $16.06 per share, with a total value of $96,360.00. Following the completion of the purchase, the chief financial officer now owns 42,310 shares of the company’s stock, valued at $679,498.60. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jackson Hsieh bought 140,000 shares of the stock in a transaction on Monday, May 6th. The stock was purchased at an average cost of $14.26 per share, with a total value of $1,996,400.00. Following the purchase, the chief executive officer now directly owns 170,500 shares of the company’s stock, valued at approximately $2,431,330. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 163,365 shares of company stock valued at $2,358,681 and sold 122,964 shares valued at $2,080,030. 0.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Macerich

Several large investors have recently bought and sold shares of MAC. Y.D. More Investments Ltd boosted its holdings in shares of Macerich by 0.9% in the fourth quarter. Y.D. More Investments Ltd now owns 81,330 shares of the real estate investment trust’s stock valued at $1,255,000 after buying an additional 745 shares during the period. SeaCrest Wealth Management LLC lifted its stake in Macerich by 1.6% in the first quarter. SeaCrest Wealth Management LLC now owns 60,937 shares of the real estate investment trust’s stock valued at $1,050,000 after acquiring an additional 978 shares during the last quarter. Metis Global Partners LLC lifted its stake in Macerich by 8.2% in the fourth quarter. Metis Global Partners LLC now owns 13,666 shares of the real estate investment trust’s stock valued at $211,000 after acquiring an additional 1,040 shares during the last quarter. Van ECK Associates Corp lifted its stake in Macerich by 4.3% in the third quarter. Van ECK Associates Corp now owns 25,312 shares of the real estate investment trust’s stock valued at $276,000 after acquiring an additional 1,049 shares during the last quarter. Finally, Swiss National Bank lifted its stake in Macerich by 0.3% in the first quarter. Swiss National Bank now owns 425,415 shares of the real estate investment trust’s stock valued at $7,330,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors own 87.38% of the company’s stock.

Macerich Company Profile

(Get Free Report

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.

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Analyst Recommendations for Macerich (NYSE:MAC)

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