The Macerich Company (NYSE:MAC – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Friday after Bank of America raised their price target on the stock from $17.00 to $19.00. Bank of America currently has a neutral rating on the stock. Macerich traded as high as $18.34 and last traded at $18.27, with a volume of 95410 shares trading hands. The stock had previously closed at $17.78.
Several other research firms have also recently issued reports on MAC. StockNews.com upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Piper Sandler lifted their price objective on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group upped their target price on Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research note on Thursday, September 19th. Finally, Evercore ISI lifted their price target on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Macerich has a consensus rating of “Hold” and an average price target of $15.84.
Read Our Latest Research Report on Macerich
Institutional Trading of Macerich
Macerich Price Performance
The firm has a fifty day moving average of $16.20 and a two-hundred day moving average of $15.70. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $3.92 billion, a PE ratio of -54.94, a PEG ratio of 0.60 and a beta of 2.50.
Macerich Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Monday, August 19th. Macerich’s payout ratio is -206.05%.
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.
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