Analysts Set The Macerich Company (NYSE:MAC) Target Price at $14.40

Shares of The Macerich Company (NYSE:MAC) have been assigned an average rating of “Reduce” from the four research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and three have issued a hold rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $14.40.

Several analysts have recently commented on the company. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a report on Thursday. Truist Financial reiterated a “hold” rating and set a $16.00 price objective on shares of Macerich in a report on Monday, March 25th. The Goldman Sachs Group increased their price objective on Macerich from $9.00 to $13.00 and gave the company a “sell” rating in a report on Thursday, January 11th. Finally, Citigroup upgraded Macerich from a “sell” rating to a “neutral” rating and increased their price objective for the company from $8.00 to $17.00 in a report on Friday, March 22nd.

Insider Activity at Macerich

In other Macerich news, President Edward C. Coppola sold 50,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total transaction of $860,000.00. Following the sale, the president now directly owns 655,667 shares of the company’s stock, valued at approximately $11,277,472.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Macerich news, President Edward C. Coppola sold 50,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total transaction of $860,000.00. Following the sale, the president now directly owns 655,667 shares of the company’s stock, valued at approximately $11,277,472.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward C. Coppola sold 20,000 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $17.01, for a total value of $340,200.00. Following the sale, the director now directly owns 635,667 shares in the company, valued at $10,812,695.67. The disclosure for this sale can be found here. Insiders have sold a total of 172,964 shares of company stock valued at $2,940,030 in the last ninety days. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Macerich

Several hedge funds have recently modified their holdings of MAC. Raymond James & Associates boosted its stake in shares of Macerich by 59.5% during the 1st quarter. Raymond James & Associates now owns 17,799 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 6,640 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Macerich by 19.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 26,417 shares of the real estate investment trust’s stock worth $413,000 after acquiring an additional 4,253 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Macerich by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 78,076 shares of the real estate investment trust’s stock worth $1,221,000 after acquiring an additional 7,444 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Macerich by 5.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 295,511 shares of the real estate investment trust’s stock worth $4,777,000 after acquiring an additional 16,588 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its stake in shares of Macerich by 1.4% during the 1st quarter. Yousif Capital Management LLC now owns 120,805 shares of the real estate investment trust’s stock worth $1,889,000 after acquiring an additional 1,700 shares in the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Stock Down 1.3 %

Macerich stock opened at $15.17 on Tuesday. The business has a fifty day moving average of $16.50 and a two-hundred day moving average of $14.32. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.67. The firm has a market cap of $3.27 billion, a P/E ratio of -11.94, a P/E/G ratio of 1.78 and a beta of 2.33. Macerich has a twelve month low of $9.05 and a twelve month high of $17.69.

Macerich (NYSE:MAC) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.26). Macerich had a negative return on equity of 10.26% and a negative net margin of 31.00%. The company had revenue of $238.70 million for the quarter, compared to analysts’ expectations of $224.49 million. During the same quarter in the prior year, the company earned $0.53 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts forecast that Macerich will post 1.8 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Friday, February 16th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.48%. The ex-dividend date was Thursday, February 15th. Macerich’s payout ratio is -53.54%.

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.