Macerich (NYSE:MAC) Given New $16.00 Price Target at Piper Sandler

Macerich (NYSE:MAC) had its price objective decreased by Piper Sandler from $17.00 to $16.00 in a research report report published on Friday,Benzinga reports. Piper Sandler currently has an underweight rating on the real estate investment trust’s stock.

Several other research analysts also recently commented on MAC. Scotiabank raised shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price target on the stock in a research note on Tuesday, December 17th. StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Compass Point raised their target price on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Macerich in a report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 target price on the stock. Finally, Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.22.

Macerich Trading Down 1.6 %

Shares of MAC opened at $18.04 on Friday. The company has a market capitalization of $4.48 billion, a P/E ratio of 46.24, a P/E/G ratio of 0.71 and a beta of 2.50. Macerich has a 1-year low of $12.99 and a 1-year high of $22.27. The firm’s 50 day simple moving average is $20.21 and its 200 day simple moving average is $18.86. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Tuesday, March 4th. Macerich’s dividend payout ratio (DPR) is currently -86.08%.

Insider Activity at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the sale, the director now owns 83,479 shares in the company, valued at approximately $1,718,832.61. The trade was a 43.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.

Institutional Trading of Macerich

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantbot Technologies LP purchased a new stake in shares of Macerich in the 4th quarter worth about $30,000. Blue Trust Inc. grew its position in shares of Macerich by 152.2% in the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 933 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Macerich in the 4th quarter worth about $45,000. State of Wyoming purchased a new stake in shares of Macerich in the 4th quarter worth about $55,000. Finally, Smartleaf Asset Management LLC grew its position in shares of Macerich by 314.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 2,630 shares during the period. 87.38% of the stock is owned by hedge funds and other institutional investors.

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.