The Macerich Company (NYSE:MAC – Get Free Report) hit a new 52-week high on Friday after The Goldman Sachs Group raised their price target on the stock from $13.00 to $14.60. The Goldman Sachs Group currently has a sell rating on the stock. Macerich traded as high as $17.73 and last traded at $17.67, with a volume of 3170213 shares trading hands. The stock had previously closed at $17.27.
A number of other brokerages also recently issued reports on MAC. Piper Sandler lifted their price target on Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd. StockNews.com raised Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Evercore ISI boosted their target price on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Macerich currently has a consensus rating of “Hold” and an average target price of $15.45.
Check Out Our Latest Stock Analysis on Macerich
Hedge Funds Weigh In On Macerich
Macerich Stock Up 2.4 %
The stock has a market cap of $3.82 billion, a price-to-earnings ratio of -11.22, a PEG ratio of 0.53 and a beta of 2.49. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.76. The stock has a fifty day moving average of $15.63 and a two-hundred day moving average of $15.55.
Macerich Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 19th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.84%. The ex-dividend date was Monday, August 19th. Macerich’s dividend payout ratio (DPR) is presently -43.59%.
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.
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