Macerich (NYSE:MAC) Lowered to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Macerich (NYSE:MAC) from a hold rating to a sell rating in a research note published on Thursday.

A number of other research firms have also weighed in on MAC. Piper Sandler boosted their price objective on Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 3rd. Bank of America upped their price target on Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Compass Point upped their price target on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group upped their price target on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research note on Thursday, September 19th. Finally, Evercore ISI upped their price target on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Five analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.40.

Macerich Trading Up 1.1 %

NYSE MAC traded up $0.22 on Thursday, reaching $19.52. 683,714 shares of the company were exchanged, compared to its average volume of 1,770,391. The business’s fifty day moving average price is $17.55 and its 200 day moving average price is $16.02. The stock has a market capitalization of $4.22 billion, a P/E ratio of -58.50, a price-to-earnings-growth ratio of 0.62 and a beta of 2.50. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.76. Macerich has a fifty-two week low of $9.90 and a fifty-two week high of $20.27.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.68 annualized dividend and a yield of 3.48%. Macerich’s dividend payout ratio (DPR) is -206.05%.

Institutional Investors Weigh In On Macerich

Several large investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its position in shares of Macerich by 152.2% during the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 933 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Macerich during the 2nd quarter worth about $50,000. GAMMA Investing LLC boosted its position in shares of Macerich by 40.9% in the 3rd 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 during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Macerich in the 2nd quarter valued at about $129,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Macerich by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 2,161 shares during the period. Hedge funds and other institutional investors own 87.38% of the company’s stock.

About Macerich

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.