The Macerich Company (NYSE:MAC) Receives Consensus Recommendation of “Reduce” from Analysts

The Macerich Company (NYSE:MAC) has been given a consensus recommendation of “Reduce” by the twelve brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $19.37.

MAC has been the subject of a number of research analyst reports. Morgan Stanley cut their target price on shares of Macerich from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. Truist Financial cut their price objective on Macerich from $23.00 to $19.00 and set a “hold” rating for the company in a report on Tuesday, April 1st. Piper Sandler dropped their target price on Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group reduced their price target on Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a report on Monday, March 10th. Finally, Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and boosted their price target for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd.

Macerich Trading Down 6.9 %

Shares of NYSE MAC opened at $14.52 on Tuesday. The firm has a market capitalization of $3.67 billion, a PE ratio of 37.23, a PEG ratio of 0.71 and a beta of 2.17. Macerich has a one year low of $12.99 and a one 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. The business has a 50-day moving average price of $18.67 and a two-hundred day moving average price of $19.18.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date was Tuesday, March 4th. Macerich’s payout ratio is -86.08%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its position in Macerich by 12,475.9% in the 3rd quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock worth $214,738,000 after buying an additional 11,679,276 shares during the period. Wellington Management Group LLP increased its position in Macerich by 845.9% during the fourth quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust’s stock worth $200,222,000 after acquiring an additional 8,988,665 shares during the period. Vanguard Group Inc. raised its stake in Macerich by 13.2% during the 4th quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust’s stock valued at $769,260,000 after purchasing an additional 4,503,509 shares during the last quarter. Bamco Inc. NY raised its stake in Macerich by 175.8% during the 4th quarter. Bamco Inc. NY now owns 4,675,471 shares of the real estate investment trust’s stock valued at $93,135,000 after purchasing an additional 2,980,051 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Macerich by 463.6% in the 4th quarter. Prudential Financial Inc. now owns 2,590,689 shares of the real estate investment trust’s stock worth $51,607,000 after purchasing an additional 2,131,030 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

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.