Brokerages Set Macerich Company (The) (NYSE:MAC) Target Price at $20.46

Shares of Macerich Company (The) (NYSE:MAC) have received a consensus rating of “Hold” from the fourteen brokerages that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $20.4615.

A number of equities research analysts have commented on the stock. Truist Financial lifted their target price on shares of Macerich from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Citigroup increased their price target on Macerich from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Weiss Ratings restated a “sell (d+)” rating on shares of Macerich in a research note on Thursday, January 22nd. The Goldman Sachs Group lifted their price objective on Macerich from $15.00 to $17.00 and gave the stock a “sell” rating in a report on Monday, March 2nd. Finally, KeyCorp set a $25.00 target price on Macerich and gave the company an “overweight” rating in a report on Monday, February 23rd.

Hedge Funds Weigh In On Macerich

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its holdings in Macerich by 76.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 585 shares during the last quarter. Global Retirement Partners LLC increased its stake in Macerich by 366.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 1,095 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Macerich by 80.4% during the fourth quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 684 shares during the last quarter. Triumph Capital Management purchased a new stake in Macerich in the 3rd quarter worth $33,000. Finally, Salomon & Ludwin LLC lifted its position in shares of Macerich by 156.6% in the fourth quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 1,336 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Price Performance

MAC opened at $18.79 on Tuesday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $4.82 billion, a P/E ratio of -24.40, a P/E/G ratio of 1.29 and a beta of 2.17. The company’s 50-day simple moving average is $19.04 and its two-hundred day simple moving average is $18.20. Macerich has a 52-week low of $12.48 and a 52-week high of $20.93.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Wednesday, February 18th. The real estate investment trust reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.50). Macerich had a negative return on equity of 7.32% and a negative net margin of 19.44%.The company had revenue of $261.70 million during the quarter, compared to the consensus estimate of $260.48 million. During the same quarter in the prior year, the firm earned $0.47 earnings per share. The business’s revenue was down 4.4% compared to the same quarter last year. As a group, analysts predict that Macerich will post 1.55 EPS for the current year.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.68 annualized dividend and a dividend yield of 3.6%. Macerich’s dividend payout ratio is presently -88.31%.

About Macerich

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.