The Macerich Company (NYSE:MAC) Receives $19.30 Consensus Price Target from Analysts

The Macerich Company (NYSE:MAC) has received a consensus rating of “Hold” from the twelve analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $19.30.

Several brokerages have recently weighed in on MAC. StockNews.com cut Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a research report on Tuesday, December 17th. They set a “hold” rating and a $22.00 price objective for the company. Piper Sandler boosted 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. Scotiabank raised shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price target on the stock in a research report on Tuesday, December 17th. Finally, Compass Point raised their target price on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Insider Activity at Macerich

In related news, Director Andrea M. Stephen sold 63,289 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total value of $1,303,120.51. Following the transaction, the director now owns 83,479 shares of the company’s stock, valued at $1,718,832.61. This represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Macerich

Several hedge funds have recently made changes to their positions in MAC. Citigroup Inc. boosted its stake in shares of Macerich by 32.3% during the third quarter. Citigroup Inc. now owns 359,069 shares of the real estate investment trust’s stock worth $6,549,000 after buying an additional 87,611 shares during the period. Quest Partners LLC raised its holdings in Macerich by 851.9% during the third quarter. Quest Partners LLC now owns 30,529 shares of the real estate investment trust’s stock worth $557,000 after purchasing an additional 27,322 shares in the last quarter. Bamco Inc. NY lifted its position in Macerich by 742.3% in the third quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock valued at $30,924,000 after purchasing an additional 1,494,145 shares during the period. Smead Capital Management Inc. increased its position in Macerich by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock worth $372,706,000 after purchasing an additional 688,790 shares during the period. Finally, Friedenthal Financial acquired a new stake in shares of Macerich in the 4th quarter valued at approximately $771,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Stock Down 1.6 %

NYSE MAC opened at $20.49 on Monday. The business has a fifty day moving average price of $20.46 and a 200 day moving average price of $18.52. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $5.09 billion, a P/E ratio of 52.54, a P/E/G ratio of 0.72 and a beta of 2.50. Macerich has a one year low of $12.99 and a one year high of $22.27.

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.