Analysts Set The Macerich Company (NYSE:MAC) PT at $19.30

Shares of The Macerich Company (NYSE:MAC) have been assigned an average rating of “Hold” from the twelve analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $19.30.

Several equities analysts recently commented on MAC shares. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. Piper Sandler upped their price target on shares of Macerich from $14.00 to $17.00 and gave the stock an “underweight” rating in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft started coverage on Macerich in a research note on Tuesday, December 17th. They set a “hold” rating and a $22.00 price objective for the company. Compass Point upped their target price on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and lifted their price target for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd.

Macerich Stock Up 1.4 %

Macerich stock opened at $19.80 on Thursday. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 50.76, a P/E/G ratio of 0.67 and a beta of 2.51. The firm has a 50 day simple moving average of $20.35 and a 200 day simple moving average of $17.91. Macerich has a 1-year low of $12.99 and a 1-year high of $22.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich (NYSE:MAC) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). The company had revenue of $220.20 million for 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%. During the same period last year, the company posted $0.44 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts predict that Macerich will post 1.56 earnings per share for the current year.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a $0.17 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.44%. Macerich’s payout ratio is 174.36%.

Insider Activity at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the completion of the sale, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. This represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Macerich

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Smead Capital Management Inc. grew its position in Macerich by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock worth $372,706,000 after acquiring an additional 688,790 shares during the last quarter. FMR LLC grew its holdings in shares of Macerich by 12,475.9% in the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock worth $214,738,000 after purchasing an additional 11,679,276 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Macerich by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust’s stock worth $99,004,000 after buying an additional 34,982 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Macerich by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,801,369 shares of the real estate investment trust’s stock valued at $87,577,000 after buying an additional 113,128 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Macerich by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,217,373 shares of the real estate investment trust’s stock valued at $49,675,000 after buying an additional 126,192 shares during the period. Institutional investors own 87.38% of the company’s stock.

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.