The Macerich Company (NYSE:MAC) Given Consensus Rating of “Reduce” by Brokerages

Shares of The Macerich Company (NYSE:MAC) have received a consensus rating of “Reduce” from the four ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $14.40.

Several equities analysts have recently issued reports on MAC shares. The Goldman Sachs Group lifted their price target on Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. StockNews.com raised Macerich from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Truist Financial reaffirmed a “hold” rating and issued a $16.00 price target on shares of Macerich in a research report on Monday, March 25th. Piper Sandler lifted their price target on Macerich from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 20th. Finally, Citigroup raised Macerich from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd.

Macerich Stock Performance

Shares of Macerich stock opened at $15.97 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $3.45 billion, a P/E ratio of -12.57, a P/E/G ratio of 1.80 and a beta of 2.33. The business has a fifty day simple moving average of $16.59 and a two-hundred day simple moving average of $14.27. Macerich has a 12 month low of $9.05 and a 12 month high of $17.69.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.26). The firm had revenue of $238.70 million for the quarter, compared to analysts’ expectations of $224.49 million. Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS. On average, equities analysts forecast that Macerich will post 1.81 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The firm 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 yield of 4.26%. Macerich’s payout ratio is -53.54%.

Insider Buying and Selling

In related news, Director Hern Thomas E. O sold 95,000 shares of Macerich 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 completion of the sale, the director now directly owns 102,900 shares in the company, valued at approximately $1,743,126. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Macerich news, Director Hern Thomas E. O sold 7,964 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $16.39, for a total transaction of $130,529.96. Following the completion of the sale, the director now directly owns 197,900 shares in the company, valued at approximately $3,243,581. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Hern Thomas E. O sold 95,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were 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 $1,743,126. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,964 shares of company stock worth $2,940,030. 0.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Macerich

A number of large investors have recently made changes to their positions in MAC. Point72 Hong Kong Ltd bought a new position in shares of Macerich during the 2nd quarter valued at approximately $29,000. Signaturefd LLC grew its stake in shares of Macerich by 152.4% during the 4th quarter. Signaturefd LLC now owns 2,166 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,308 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Macerich during the 3rd quarter valued at approximately $36,000. Anchor Investment Management LLC bought a new position in shares of Macerich during the 4th quarter valued at approximately $40,000. Finally, Quest Partners LLC bought a new position in shares of Macerich during the 4th quarter valued at approximately $41,000. 87.38% of the stock is currently owned by institutional investors.

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.