The Macerich Company (NYSE:MAC) Receives Average Recommendation of “Reduce” from Brokerages

Shares of The Macerich Company (NYSE:MAC) have received an average recommendation of “Reduce” from the four analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $14.40.

A number of research firms have commented on MAC. Truist Financial restated a “hold” rating and issued a $16.00 target price on shares of Macerich in a research report on Monday, March 25th. The Goldman Sachs Group lifted their target price on Macerich from $9.00 to $13.00 and gave the company a “sell” rating in a research report on Thursday, January 11th. Citigroup upgraded Macerich from a “sell” rating to a “neutral” rating and lifted their target price for the company from $8.00 to $17.00 in a research report on Friday, March 22nd. Finally, StockNews.com downgraded Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th.

Insider Activity at Macerich

In related news, Director Hern Thomas E. O sold 95,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $16.94, for a total value of $1,609,300.00. Following the sale, the director now owns 102,900 shares in the company, valued at approximately $1,743,126. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Macerich news, Director Hern Thomas E. O sold 95,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $16.94, for a total value of $1,609,300.00. Following the sale, the director now owns 102,900 shares of the company’s stock, valued at approximately $1,743,126. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Edward C. Coppola sold 50,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total value of $860,000.00. Following the completion of the sale, the president now directly owns 655,667 shares in the company, valued at approximately $11,277,472.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,964 shares of company stock worth $2,940,030. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Macerich

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its position in Macerich by 1,460.3% in the 4th quarter. International Assets Investment Management LLC now owns 324,502 shares of the real estate investment trust’s stock valued at $5,007,000 after purchasing an additional 303,704 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Macerich by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,488,816 shares of the real estate investment trust’s stock valued at $48,973,000 after purchasing an additional 31,445 shares in the last quarter. Barclays PLC raised its position in shares of Macerich by 91.0% during the 3rd quarter. Barclays PLC now owns 221,834 shares of the real estate investment trust’s stock worth $2,421,000 after acquiring an additional 105,663 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Macerich by 642.9% during the 3rd quarter. SG Americas Securities LLC now owns 115,705 shares of the real estate investment trust’s stock worth $1,262,000 after acquiring an additional 100,131 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Macerich by 15.3% during the 3rd quarter. Invesco Ltd. now owns 579,573 shares of the real estate investment trust’s stock worth $6,323,000 after acquiring an additional 76,888 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Performance

NYSE MAC opened at $15.71 on Tuesday. The stock’s fifty day moving average is $16.44 and its two-hundred day moving average is $14.44. The firm has a market capitalization of $3.39 billion, a P/E ratio of -12.37, a price-to-earnings-growth ratio of 1.72 and a beta of 2.33. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.95 and a current ratio of 0.95. Macerich has a fifty-two week low of $9.05 and a fifty-two week high of $17.69.

Macerich (NYSE:MAC) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.26). The company had revenue of $238.70 million for the quarter, compared to analyst estimates of $224.49 million. Macerich had a negative return on equity of 10.26% and a negative net margin of 31.00%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. On average, research analysts anticipate that Macerich will post 1.8 earnings per share for the current year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Friday, February 16th were issued a $0.17 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.68 annualized dividend and a dividend yield of 4.33%. Macerich’s dividend payout ratio is presently -53.54%.

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.