Macerich (NYSE:MAC – Free Report) had its price target hoisted by Bank of America from $17.00 to $19.00 in a research note published on Friday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.
A number of other equities analysts have also recently issued reports on the stock. StockNews.com raised shares of Macerich from a sell rating to a hold rating in a report on Friday, August 2nd. Piper Sandler raised their price target on shares of Macerich from $11.00 to $14.00 and gave the company an underweight rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group boosted their price objective on Macerich from $13.00 to $14.60 and gave the stock a sell rating in a research report on Thursday, September 19th. Finally, Evercore ISI raised their target price on Macerich from $15.00 to $16.00 and gave the company an in-line rating in a research report on Wednesday, August 28th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $15.84.
Get Our Latest Analysis on Macerich
Macerich Price Performance
Macerich Dividend Announcement
The firm also recently declared 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 3.76%. The ex-dividend date of this dividend was Monday, August 19th. Macerich’s dividend payout ratio (DPR) is presently -43.59%.
Hedge Funds Weigh In On Macerich
Large investors have recently made changes to their positions in the business. Fidelis Capital Partners LLC bought a new stake in Macerich during the first quarter worth approximately $46,000. Quest Partners LLC acquired a new stake in shares of Macerich during the 2nd quarter valued at $50,000. GAMMA Investing LLC boosted its stake in shares of Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 933 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Macerich in the 2nd quarter worth $129,000. Finally, Inspire Advisors LLC acquired a new stake in shares of Macerich during the second quarter worth $177,000. Institutional investors own 87.38% of the company’s stock.
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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