Macerich Co (NYSE:MAC) Given Consensus Recommendation of “Hold” by Analysts

Shares of Macerich Co (NYSE:MAC) have received a consensus recommendation of “Hold” from the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $58.00.

Several research firms have weighed in on MAC. Morgan Stanley dropped their price objective on Macerich from $180.00 to $170.00 and set an “underweight” rating for the company in a report on Thursday, June 20th. BMO Capital Markets reiterated a “buy” rating and issued a $44.00 price objective on shares of Macerich in a report on Monday, August 5th. Citigroup dropped their price objective on Macerich from $46.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Finally, Barclays reiterated a “hold” rating and issued a $36.00 price objective on shares of Macerich in a report on Thursday, July 18th.

In other news, Director Andrea M. Stephen bought 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average price of $35.02 per share, with a total value of $700,400.00. Following the transaction, the director now owns 16,580 shares of the company’s stock, valued at $580,631.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steve Hash bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average cost of $29.37 per share, with a total value of $146,850.00. Following the transaction, the director now directly owns 16,884 shares in the company, valued at approximately $495,883.08. The disclosure for this purchase can be found here. Insiders bought a total of 98,424 shares of company stock valued at $3,285,329 in the last three months. Corporate insiders own 1.73% of the company’s stock.



Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Macerich by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 20,554,457 shares of the real estate investment trust’s stock valued at $688,368,000 after buying an additional 711,878 shares in the last quarter. Cohen & Steers Inc. increased its position in Macerich by 105.1% during the 2nd quarter. Cohen & Steers Inc. now owns 13,228,878 shares of the real estate investment trust’s stock valued at $443,035,000 after buying an additional 6,780,378 shares in the last quarter. BlackRock Inc. increased its position in Macerich by 1.1% during the 2nd quarter. BlackRock Inc. now owns 11,691,318 shares of the real estate investment trust’s stock valued at $391,543,000 after buying an additional 123,293 shares in the last quarter. Morgan Stanley increased its position in Macerich by 3.3% during the 2nd quarter. Morgan Stanley now owns 8,021,660 shares of the real estate investment trust’s stock valued at $268,645,000 after buying an additional 257,575 shares in the last quarter. Finally, Invesco Ltd. increased its position in Macerich by 4.2% during the 2nd quarter. Invesco Ltd. now owns 6,989,870 shares of the real estate investment trust’s stock valued at $234,091,000 after buying an additional 278,524 shares in the last quarter. 97.60% of the stock is owned by hedge funds and other institutional investors.

NYSE MAC traded down $0.58 on Friday, hitting $29.30. The company’s stock had a trading volume of 2,009,577 shares, compared to its average volume of 1,425,241. Macerich has a 52-week low of $28.87 and a 52-week high of $59.22. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.87. The company’s 50-day simple moving average is $32.41 and its 200 day simple moving average is $38.92. The firm has a market cap of $4.30 billion, a P/E ratio of 7.61, a PEG ratio of 3.72 and a beta of 0.73.

Macerich (NYSE:MAC) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.02. Macerich had a return on equity of 3.49% and a net margin of 11.59%. The business had revenue of $227.97 million during the quarter, compared to analysts’ expectations of $213.18 million. During the same quarter last year, the business posted $0.96 EPS. The business’s revenue was down 2.8% on a year-over-year basis. On average, research analysts forecast that Macerich will post 3.56 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Monday, August 19th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 10.24%. The ex-dividend date of this dividend is Friday, August 16th. Macerich’s dividend payout ratio is currently 77.92%.

About Macerich

Macerich, an S&P 500 company, is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.

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Analyst Recommendations for Macerich (NYSE:MAC)

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