Brokerages Set The Macerich Company (NYSE:MAC) Price Target at $19.49

The Macerich Company (NYSE:MAC) has earned a consensus recommendation of “Reduce” from the twelve research firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $19.37.

A number of brokerages have commented on MAC. Jefferies Financial Group upgraded shares of Macerich from a “hold” rating to a “buy” rating and raised their price target for the stock from $19.00 to $23.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. decreased their price target on Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a research note on Monday, March 10th. Scotiabank dropped their price objective on Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a research note on Thursday, March 6th. Truist Financial reduced their target price on shares of Macerich from $23.00 to $19.00 and set a “hold” rating on the stock in a research note on Tuesday, April 1st. Finally, Piper Sandler dropped their target price on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, February 28th.

Macerich Stock Performance

Shares of NYSE MAC opened at $14.52 on Tuesday. Macerich has a one year low of $12.99 and a one year high of $22.27. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 0.71 and a beta of 2.17. 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 fifty day simple moving average of $18.67 and a 200 day simple moving average of $19.18.

Macerich Dividend Announcement

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

Institutional Investors Weigh In On Macerich

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cerity Partners LLC grew its holdings in Macerich by 21.9% during the 3rd quarter. Cerity Partners LLC now owns 31,368 shares of the real estate investment trust’s stock worth $572,000 after acquiring an additional 5,642 shares during the period. FMR LLC lifted its holdings in Macerich by 12,475.9% during the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock worth $214,738,000 after acquiring an additional 11,679,276 shares in the last quarter. Townsquare Capital LLC increased its holdings in Macerich by 7.2% during the 3rd quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock worth $245,000 after purchasing an additional 902 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Macerich by 399.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust’s stock worth $28,206,000 after acquiring an additional 1,236,983 shares during the last quarter. Finally, Bamco Inc. NY boosted its stake in shares of Macerich by 742.3% during the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock worth $30,924,000 after buying an additional 1,494,145 shares during the last quarter. 87.38% of the stock is owned by institutional investors.

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.