Macerich (NYSE:MAC) Research Coverage Started at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH started coverage on shares of Macerich (NYSE:MAC) in a research note released on Friday morning, Marketbeat.com reports. The firm issued a buy rating and a $25.00 target price on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on MAC. Piper Sandler upgraded Macerich from an “underweight” rating to a “neutral” rating and set a $16.00 price target for the company in a research note on Thursday, May 22nd. Mizuho upgraded Macerich from a “neutral” rating to an “outperform” rating and dropped their target price for the stock from $22.00 to $18.00 in a report on Tuesday, June 10th. Scotiabank lowered their price target on Macerich from $21.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. Truist Financial boosted their price objective on shares of Macerich from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Finally, Morgan Stanley dropped their price target on shares of Macerich from $20.00 to $19.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.26.

Macerich Stock Down 0.4%

Shares of Macerich stock opened at $16.57 on Friday. Macerich has a twelve month low of $12.48 and a twelve month high of $22.27. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.91. The company’s 50 day moving average is $16.05 and its 200 day moving average is $17.11. The company has a market cap of $4.19 billion, a price-to-earnings ratio of -38.53, a price-to-earnings-growth ratio of 3.23 and a beta of 2.13.

Macerich (NYSE:MAC) last posted its earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Macerich had a negative return on equity of 4.37% and a negative net margin of 12.26%. The company had revenue of $249.22 million for the quarter, compared to the consensus estimate of $221.61 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. Macerich’s revenue was up 19.3% on a year-over-year basis. Research analysts anticipate that Macerich will post 1.55 EPS for the current year.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.10%. Macerich’s dividend payout ratio is presently -158.14%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. PGGM Investments lifted its stake in shares of Macerich by 15.9% during the 2nd quarter. PGGM Investments now owns 4,022,858 shares of the real estate investment trust’s stock worth $65,090,000 after purchasing an additional 552,194 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Macerich by 5.7% during the second quarter. State of Alaska Department of Revenue now owns 273,454 shares of the real estate investment trust’s stock valued at $4,423,000 after buying an additional 14,742 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Macerich by 2.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 379,277 shares of the real estate investment trust’s stock valued at $6,137,000 after buying an additional 10,049 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Macerich by 47.7% in the 2nd quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 972 shares in the last quarter. Finally, Nicola Wealth Management LTD. grew its position in shares of Macerich by 19.8% in the 1st quarter. Nicola Wealth Management LTD. now owns 47,764 shares of the real estate investment trust’s stock worth $820,000 after buying an additional 7,880 shares during the last quarter. 87.38% of the stock is currently 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.