Macerich Company (The) (NYSE:MAC) Given Consensus Recommendation of “Hold” by Analysts

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

Several research firms have weighed in on MAC. Citigroup boosted their target price on shares of Macerich from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Mizuho set a $21.00 price objective on shares of Macerich in a research note on Friday, January 9th. The Goldman Sachs Group boosted their price objective on shares of Macerich from $15.00 to $17.00 and gave the company a “sell” rating in a report on Monday, March 2nd. KeyCorp set a $25.00 target price on Macerich and gave the company an “overweight” rating in a research report on Monday, February 23rd. Finally, Truist Financial raised their target price on Macerich from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th.

Institutional Investors Weigh In On Macerich

A number of large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Macerich by 73.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,521,554 shares of the real estate investment trust’s stock worth $209,692,000 after buying an additional 4,868,844 shares during the period. Centersquare Investment Management LLC lifted its stake in Macerich by 149.6% during the 4th quarter. Centersquare Investment Management LLC now owns 6,354,661 shares of the real estate investment trust’s stock valued at $117,307,000 after acquiring an additional 3,808,336 shares during the period. Norges Bank purchased a new stake in shares of Macerich in the 4th quarter valued at $66,924,000. Wellington Management Group LLP boosted its holdings in shares of Macerich by 139.8% in the 4th quarter. Wellington Management Group LLP now owns 3,675,803 shares of the real estate investment trust’s stock valued at $67,855,000 after acquiring an additional 2,142,737 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Macerich by 435.5% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,724,727 shares of the real estate investment trust’s stock worth $31,390,000 after acquiring an additional 1,402,627 shares during the period. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Price Performance

Shares of NYSE MAC opened at $18.10 on Tuesday. Macerich has a fifty-two week low of $12.48 and a fifty-two week high of $20.93. The company has a market cap of $4.64 billion, a PE ratio of -23.50, a P/E/G ratio of 1.25 and a beta of 2.17. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.02 and a current ratio of 1.02. The business has a 50-day simple moving average of $19.03 and a two-hundred day simple moving average of $18.20.

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

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, March 16th. Macerich’s dividend payout ratio (DPR) is presently -88.31%.

About Macerich

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.