The Macerich Company (NYSE:MAC) Given Average Recommendation of “Reduce” by Analysts

Shares of The Macerich Company (NYSE:MAC) have earned a consensus rating of “Reduce” from the nine brokerages that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $16.40.

A number of research firms have weighed in on MAC. StockNews.com downgraded Macerich from a “hold” rating to a “sell” rating in a research report on Thursday. Piper Sandler raised their target price on shares of Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research report on Tuesday, September 3rd. Compass Point lifted their price target on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI increased their price objective on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group lifted their target price on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research report on Thursday, September 19th.

Macerich Stock Performance

Shares of Macerich stock opened at $19.53 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.86. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of 50.07, a price-to-earnings-growth ratio of 0.62 and a beta of 2.50. Macerich has a one year low of $9.90 and a one year high of $20.27. The stock’s 50-day moving average is $17.62 and its 200-day moving average is $16.05.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Tuesday, November 12th. Macerich’s dividend payout ratio is 174.36%.

Institutional Investors Weigh In On Macerich

A number of institutional investors have recently modified their holdings of MAC. Vanguard Group Inc. raised its stake in Macerich by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 34,672,065 shares of the real estate investment trust’s stock worth $597,400,000 after purchasing an additional 193,787 shares in the last quarter. Smead Capital Management Inc. boosted its stake in shares of Macerich by 3.5% in the third quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock valued at $372,706,000 after buying an additional 688,790 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Macerich by 4.1% in the second 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. Renaissance Technologies LLC grew its position in Macerich by 10.4% during the second quarter. Renaissance Technologies LLC now owns 1,233,600 shares of the real estate investment trust’s stock worth $19,047,000 after buying an additional 116,200 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Macerich by 1,845.1% during the 1st quarter. Russell Investments Group Ltd. now owns 1,168,864 shares of the real estate investment trust’s stock worth $20,133,000 after acquiring an additional 1,108,770 shares during the period. 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.