Macerich Company (The) (NYSE:MAC) Receives Average Rating of “Hold” from Brokerages

Shares of Macerich Company (The) (NYSE:MAC) have earned an average rating of “Hold” from the thirteen research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $22.5385.

Several equities research analysts have recently weighed in on the company. KeyCorp set a $25.00 price objective on Macerich and gave the company an “overweight” rating in a research note on Monday, February 23rd. Evercore set a $22.00 price objective on Macerich in a research note on Friday, May 8th. JPMorgan Chase & Co. upped their price objective on Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Tuesday, March 10th. Weiss Ratings upgraded Macerich from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, Mizuho boosted their target price on Macerich from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, May 15th.

Macerich Trading Up 4.1%

MAC stock opened at $23.22 on Friday. Macerich has a 1-year low of $15.48 and a 1-year high of $23.24. The firm has a market cap of $6.07 billion, a P/E ratio of -32.70, a P/E/G ratio of 1.50 and a beta of 2.10. The business’s 50 day moving average is $21.36 and its 200-day moving average is $19.53. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.96.

Macerich (NYSE:MAC) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Macerich had a negative return on equity of 6.95% and a negative net margin of 18.22%.The company had revenue of $241.54 million for the quarter, compared to analyst estimates of $233.06 million. During the same period in the prior year, the company posted $0.33 EPS. The company’s revenue was down 3.1% compared to the same quarter last year. Equities analysts anticipate that Macerich will post 1.48 earnings per share for the current fiscal year.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, June 15th. Macerich’s payout ratio is presently -95.77%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its holdings in shares of Macerich by 76.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 585 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Macerich by 366.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 1,095 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Macerich by 80.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 684 shares in the last quarter. Triumph Capital Management acquired a new position in shares of Macerich in the 3rd quarter worth approximately $33,000. Finally, Salomon & Ludwin LLC boosted its holdings in shares of 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. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Company Profile

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.