Macerich (NYSE:MAC) Now Covered by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Macerich (NYSE:MAC) in a report published on Tuesday, Marketbeat.com reports. The firm issued a hold rating and a $22.00 target price on the real estate investment trust’s stock.

A number of other research analysts have also commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research note on Thursday, September 19th. Evercore ISI lifted their price objective on shares of Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Bank of America lifted their price objective on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Piper Sandler lifted their target price on shares of Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a report on Wednesday, December 11th. Finally, Compass Point lifted their target price on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.86.

Macerich Price Performance

Shares of NYSE:MAC opened at $21.35 on Tuesday. The company’s fifty day moving average price is $19.61 and its 200 day moving average price is $17.05. Macerich has a 12 month low of $12.99 and a 12 month high of $22.27. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $5.31 billion, a P/E ratio of 54.77, a P/E/G ratio of 0.74 and a beta of 2.51.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The company had revenue of $220.20 million for the quarter, compared to analyst estimates of $208.54 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. Macerich’s revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts predict that Macerich will post 1.56 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Tuesday, November 12th. Macerich’s dividend payout ratio is currently 174.36%.

Institutional Trading of Macerich

A number of institutional investors have recently added to or reduced their stakes in MAC. FMR LLC boosted its holdings in Macerich by 12,475.9% during the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock worth $214,738,000 after buying an additional 11,679,276 shares in the last quarter. Bamco Inc. NY boosted its holdings in Macerich by 742.3% during the third quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock worth $30,924,000 after buying an additional 1,494,145 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Macerich by 399.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust’s stock worth $28,206,000 after buying an additional 1,236,983 shares in the last quarter. Smead Capital Management Inc. boosted its holdings in Macerich by 3.5% during the third quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock worth $372,706,000 after buying an additional 688,790 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in Macerich during the second quarter worth about $10,625,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

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.