Macerich (MAC) – Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for Macerich (NYSE: MAC):

• 12/17/2024 – Macerich was upgraded by analysts at Scotiabank from a “sector underperform” rating to a “sector perform” rating. They now have a $22.00 price target on the stock.
• 12/17/2024 – Macerich is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a “hold” rating and a $22.00 price target on the stock.
• 12/11/2024 – Macerich had its price target raised by analysts at Piper Sandler from $14.00 to $17.00. They now have an “underweight” rating on the stock.
• 12/4/2024 – Macerich was upgraded by analysts at Mizuho from an “underperform” rating to a “neutral” rating. They now have a $22.00 price target on the stock, up previously from $14.00.
• 11/7/2024 – Macerich was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/7/2024 – Macerich had its price target raised by analysts at Compass Point from $20.00 to $23.00. They now have a “buy” rating on the stock.

Macerich Trading Up 0.8 %

Shares of MAC stock opened at $20.23 on Wednesday. The stock has a market capitalization of $5.03 billion, a PE ratio of 51.87, a P/E/G ratio of 0.75 and a beta of 2.51. The Macerich Company has a 1-year low of $12.99 and a 1-year high of $22.27. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50-day moving average of $19.88 and a 200 day moving average of $17.27.

Macerich (NYSE:MAC) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.90). The company had revenue of $220.20 million during the quarter, compared to analysts’ expectations of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the business earned $0.44 earnings per share. As a group, sell-side analysts anticipate that The Macerich Company will post 1.56 earnings per share for the current year.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Tuesday, November 12th. Macerich’s dividend payout ratio (DPR) is presently 174.36%.

Institutional Trading of Macerich

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAC. Blue Trust Inc. raised its holdings in shares of Macerich by 152.2% in the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 933 shares in the last quarter. Quest Partners LLC bought a new stake in Macerich during the 2nd quarter valued at $50,000. GAMMA Investing LLC boosted its position in Macerich by 40.9% during the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 933 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Macerich in the second quarter valued at about $129,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Macerich by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 2,161 shares in the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

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.