The Macerich Company (NYSE:MAC) Given Average Rating of “Reduce” by Analysts

Shares of The Macerich Company (NYSE:MAC) have been given an average recommendation of “Reduce” by the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $15.84.

A number of research analysts recently commented on MAC shares. Piper Sandler increased their price target on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group increased their price target on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a report on Thursday, September 19th. StockNews.com raised Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Bank of America increased their target price on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Finally, Evercore ISI increased their target price on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th.

Institutional Trading of Macerich

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. raised its position in shares of Macerich by 152.2% during the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 933 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Macerich during the 1st quarter worth approximately $46,000. Quest Partners LLC acquired a new stake in shares of Macerich during the 2nd quarter worth approximately $50,000. GAMMA Investing LLC raised its position in shares of Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 933 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Macerich during the 2nd quarter worth approximately $129,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Trading Down 2.0 %

Shares of MAC opened at $18.32 on Friday. The company has a market capitalization of $3.96 billion, a P/E ratio of -55.51, a P/E/G ratio of 0.63 and a beta of 2.50. Macerich has a one year low of $9.90 and a one year high of $19.09. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50-day moving average price of $17.24 and a 200 day moving average price of $15.91.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Tuesday, November 12th. Macerich’s payout ratio is -206.05%.

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.