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

Shares of The Macerich Company (NYSE:MAC) have been given a consensus recommendation of “Hold” by the twelve research firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $18.95.

Several brokerages recently issued reports on MAC. Morgan Stanley cut their price objective on shares of Macerich from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. JPMorgan Chase & Co. cut their price objective on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a report on Monday, March 10th. Scotiabank cut their price objective on shares of Macerich from $21.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group cut their price objective on shares of Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a report on Monday, March 10th. Finally, Truist Financial raised shares of Macerich from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Thursday, April 10th.

Macerich Stock Performance

Macerich stock opened at $15.72 on Wednesday. The company has a 50 day moving average price of $15.50 and a 200-day moving average price of $18.40. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. Macerich has a fifty-two week low of $12.48 and a fifty-two week high of $22.27. The company has a market capitalization of $3.97 billion, a PE ratio of 40.31, a P/E/G ratio of 0.71 and a beta of 2.13.

Macerich (NYSE:MAC) last posted its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The firm had revenue of $249.22 million during the quarter, compared to the consensus estimate of $221.61 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. As a group, equities analysts forecast that Macerich will post 1.55 earnings per share for the current year.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend is Tuesday, June 3rd. Macerich’s dividend payout ratio (DPR) is presently -158.14%.

Institutional Investors Weigh In On Macerich

A number of large investors have recently made changes to their positions in MAC. Quantbot Technologies LP purchased a new stake in shares of Macerich during the fourth quarter valued at $30,000. Lazard Asset Management LLC acquired a new position in Macerich during the fourth quarter valued at $45,000. Blue Trust Inc. lifted its position in Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,064 shares during the period. State of Wyoming acquired a new position in Macerich during the fourth quarter valued at $55,000. Finally, Signaturefd LLC lifted its position in Macerich by 34.9% during the first quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 862 shares during the period. 87.38% of the stock is owned by hedge funds and other institutional investors.

About Macerich

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.