Macerich Company (The) (NYSE:MAC) Receives Consensus Rating of “Hold” from Brokerages

Macerich Company (The) (NYSE:MAC) has received an average rating of “Hold” from the thirteen research firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $19.8667.

A number of research firms have weighed in on MAC. Scotiabank boosted their target price on shares of Macerich from $16.00 to $18.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Bank of America upgraded Macerich from a “neutral” rating to a “buy” rating and upped their price objective for the company from $19.00 to $23.00 in a research note on Friday, September 26th. Wall Street Zen lowered Macerich from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. boosted their target price on Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Wednesday, August 27th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Macerich in a research note on Wednesday, October 8th.

Macerich Trading Up 0.4%

Shares of Macerich stock opened at $17.96 on Wednesday. The firm has a market cap of $4.60 billion, a PE ratio of -10.26, a P/E/G ratio of 2.96 and a beta of 2.25. Macerich has a 1 year low of $12.48 and a 1 year high of $22.27. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a fifty day moving average price of $17.63 and a 200-day moving average price of $16.83.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Macerich had a negative return on equity of 15.15% and a negative net margin of 41.33%.The company had revenue of $253.26 million during the quarter, compared to analysts’ expectations of $246.77 million. During the same period last year, the firm posted $0.38 earnings per share. Macerich’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities research analysts anticipate that Macerich will post 1.55 EPS for the current year.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 15th will be paid a $0.17 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.68 annualized dividend and a dividend yield of 3.8%. Macerich’s dividend payout ratio (DPR) is presently -42.77%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Teacher Retirement System of Texas bought a new stake in shares of Macerich during the 1st quarter valued at about $622,000. Envestnet Asset Management Inc. raised its stake in Macerich by 0.9% in the first quarter. Envestnet Asset Management Inc. now owns 331,726 shares of the real estate investment trust’s stock valued at $5,696,000 after purchasing an additional 3,032 shares in the last quarter. Xponance Inc. lifted its position in Macerich by 10.0% during the first quarter. Xponance Inc. now owns 19,428 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 1,768 shares during the last quarter. New York State Common Retirement Fund lifted its position in Macerich by 37.3% during the first quarter. New York State Common Retirement Fund now owns 102,358 shares of the real estate investment trust’s stock valued at $1,757,000 after purchasing an additional 27,834 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Macerich by 34.9% in the 1st quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 862 shares in the last quarter. 87.38% of the stock is owned by 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.