The Macerich Company (NYSE:MAC) Given Average Recommendation of “Reduce” by Brokerages

Shares of The Macerich Company (NYSE:MAC) have been assigned an average recommendation of “Reduce” from the nine ratings firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $15.84.

MAC has been the subject of several recent research reports. Piper Sandler boosted their price target on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research note on Tuesday, September 3rd. Bank of America lifted their price objective on shares of Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday. StockNews.com upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their price target on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research report on Thursday, September 19th. Finally, Evercore ISI raised their price objective on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th.

Institutional Trading of Macerich

Hedge funds have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC bought a new position in shares of Macerich in the 1st quarter valued at $46,000. Quest Partners LLC bought a new stake in shares of Macerich during the second quarter worth about $50,000. GAMMA Investing LLC raised its holdings in Macerich by 40.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 933 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Macerich during the 2nd quarter worth approximately $129,000. Finally, Inspire Advisors LLC bought a new stake in Macerich during the 2nd quarter worth approximately $177,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Price Performance

Shares of MAC opened at $18.10 on Tuesday. The company’s 50-day moving average is $16.27 and its 200-day moving average is $15.70. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $3.90 billion, a PE ratio of -11.60, a PEG ratio of 0.60 and a beta of 2.50. Macerich has a fifty-two week low of $9.21 and a fifty-two week high of $18.35.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Monday, August 19th. Macerich’s dividend payout ratio is -43.59%.

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.