The Macerich Company (NYSE:MAC) Given Consensus Recommendation of “Reduce” by Analysts

The Macerich Company (NYSE:MAC) has been given a consensus rating of “Reduce” by the eight brokerages that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $15.19.

A number of analysts recently weighed in on MAC shares. The Goldman Sachs Group cut their target price on shares of Macerich from $14.00 to $12.50 and set a “sell” rating on the stock in a research note on Monday, June 17th. StockNews.com upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Evercore ISI upped their target price on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Finally, Piper Sandler upped their target price on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 3rd.

Macerich Stock Down 0.2 %

Shares of NYSE:MAC opened at $16.59 on Friday. 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 $3.58 billion, a PE ratio of -10.63, a price-to-earnings-growth ratio of 0.53 and a beta of 2.49. The firm’s 50-day moving average is $15.53 and its two-hundred day moving average is $15.53. Macerich has a 1 year low of $9.21 and a 1 year high of $17.69.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 19th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Monday, August 19th. Macerich’s payout ratio is -43.59%.

Hedge Funds Weigh In On Macerich

Several hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in shares of Macerich by 49.8% in the 4th quarter. Russell Investments Group Ltd. now owns 60,094 shares of the real estate investment trust’s stock valued at $930,000 after acquiring an additional 19,969 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Macerich in the fourth quarter valued at $452,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Macerich by 11.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 17,610 shares of the real estate investment trust’s stock valued at $272,000 after buying an additional 1,805 shares during the period. First Eagle Investment Management LLC raised its position in shares of Macerich by 18.5% during the fourth quarter. First Eagle Investment Management LLC now owns 210,261 shares of the real estate investment trust’s stock worth $3,244,000 after purchasing an additional 32,788 shares during the period. Finally, Norges Bank acquired a new stake in shares of Macerich during the fourth quarter worth $22,210,000. 87.38% of the stock is owned by institutional investors and hedge funds.

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.