The Macerich Company (NYSE:MAC) Receives Average Recommendation of “Reduce” from Brokerages

Shares of The Macerich Company (NYSE:MAC) have been assigned an average rating of “Reduce” from the eleven analysts that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $19.49.

MAC has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Friday, February 28th. Mizuho raised Macerich from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and raised their target price for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Macerich in a report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price target on the stock. Finally, The Goldman Sachs Group decreased their price objective on shares of Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a report on Monday, March 10th.

Macerich Stock Performance

Shares of MAC stock opened at $17.22 on Tuesday. Macerich has a one year low of $12.99 and a one year high of $22.27. The company has a market cap of $4.35 billion, a P/E ratio of 44.15, a P/E/G ratio of 0.71 and a beta of 2.62. The firm has a 50-day moving average of $18.98 and a 200-day moving average of $19.21. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.95%. The ex-dividend date was Tuesday, March 4th. Macerich’s dividend payout ratio (DPR) is presently -86.08%.

Institutional Investors Weigh In On Macerich

A number of hedge funds and other institutional investors have recently bought and sold shares of MAC. Fairtree Asset Management Pty Ltd purchased a new position in shares of Macerich in the fourth quarter valued at $515,000. California State Teachers Retirement System increased its position in shares of Macerich by 13.4% during the fourth quarter. California State Teachers Retirement System now owns 231,559 shares of the real estate investment trust’s stock valued at $4,613,000 after buying an additional 27,396 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of Macerich in the fourth quarter worth about $90,000. Public Employees Retirement System of Ohio boosted its position in shares of Macerich by 12.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 352,623 shares of the real estate investment trust’s stock valued at $7,024,000 after acquiring an additional 38,623 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Macerich by 4.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,619,222 shares of the real estate investment trust’s stock valued at $32,255,000 after acquiring an additional 72,849 shares in the last quarter. 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.