The Macerich Company (NYSE:MAC) Given Consensus Recommendation of “Hold” by Brokerages

The Macerich Company (NYSE:MAC) has received an average rating of “Hold” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $19.30.

A number of research analysts have commented on MAC shares. Scotiabank upgraded Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price objective on the stock in a research report on Tuesday, December 17th. Compass Point raised their price target on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group upgraded 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 report on Thursday, January 2nd. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th.

Macerich Stock Down 1.4 %

Shares of MAC opened at $20.51 on Monday. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 52.58, a PEG ratio of 0.72 and a beta of 2.50. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The business’s fifty day moving average price is $20.41 and its two-hundred day moving average price is $18.60. Macerich has a 52 week low of $12.99 and a 52 week high of $22.27.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Tuesday, March 4th. Macerich’s dividend payout ratio is 174.36%.

Insider Buying and Selling at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $20.59, for a total value of $1,303,120.51. Following the sale, the director now owns 83,479 shares of the company’s stock, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.

Institutional Trading of Macerich

Hedge funds and other institutional investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV bought a new position in shares of Macerich in the 4th quarter valued at about $304,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Macerich in the 4th quarter valued at about $366,000. Northern Trust Corp grew its holdings in shares of Macerich by 56.7% in the 4th quarter. Northern Trust Corp now owns 4,205,890 shares of the real estate investment trust’s stock valued at $83,781,000 after acquiring an additional 1,522,147 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Macerich by 2.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 117,620 shares of the real estate investment trust’s stock valued at $2,343,000 after acquiring an additional 2,521 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new position in shares of Macerich in the 4th quarter valued at about $3,959,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

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.