Analysts Set Macerich Company (The) (NYSE:MAC) Target Price at $19.76

Macerich Company (The) (NYSE:MAC) has earned an average rating of “Hold” from the twelve analysts that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $19.7636.

Several brokerages have recently weighed in on MAC. Mizuho set a $21.00 price target on Macerich in a report on Friday, January 9th. Scotiabank raised their price objective on shares of Macerich from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, November 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $21.00 target price on shares of Macerich in a research note on Monday, December 15th. Truist Financial raised their price target on shares of Macerich from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Macerich in a research report on Thursday, January 22nd.

Macerich Price Performance

MAC opened at $18.94 on Monday. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50 day simple moving average is $18.21 and its 200 day simple moving average is $17.70. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of -11.91, a PEG ratio of 3.63 and a beta of 2.06. Macerich has a 1 year low of $12.48 and a 1 year high of $21.08.

Macerich (NYSE:MAC) last posted its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). Macerich had a negative net margin of 37.97% and a negative return on equity of 14.21%. The business had revenue of $253.26 million for the quarter, compared to analysts’ expectations of $246.77 million. During the same period last year, the firm posted $0.38 earnings per share. Macerich’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, analysts predict that Macerich will post 1.55 earnings per share for the current year.

Institutional Investors Weigh In On Macerich

A number of large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its position in Macerich by 76.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 585 shares in the last quarter. Triumph Capital Management bought a new position in shares of Macerich during the 3rd quarter valued at approximately $33,000. Salomon & Ludwin LLC increased its holdings in Macerich by 156.6% in the 4th quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,336 shares in the last quarter. Fifth Third Bancorp raised its stake in Macerich by 47.7% during the 2nd quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 972 shares during the period. Finally, Danske Bank A S purchased a new position in Macerich during the third quarter valued at approximately $56,000. 87.38% of the stock is currently owned by institutional investors.

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.