Macerich Co (NYSE:MAC) Receives $39.19 Average Target Price from Analysts

Macerich Co (NYSE:MAC) has received an average rating of “Hold” from the sixteen analysts that are currently covering the firm, reports. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $39.19.

A number of equities research analysts recently weighed in on MAC shares. BMO Capital Markets cut Macerich from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $40.00 to $33.00 in a research note on Thursday, September 26th. TheStreet cut shares of Macerich from a “c” rating to a “d+” rating in a research report on Thursday, October 31st. Morgan Stanley reduced their price objective on shares of Macerich from $30.00 to $26.50 and set an “underweight” rating for the company in a research report on Tuesday, September 3rd. Bank of America decreased their price objective on shares of Macerich from $34.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Finally, Barclays set a $33.00 price objective on shares of Macerich and gave the company a “hold” rating in a research report on Tuesday, September 10th.

In other Macerich news, CAO Christopher J. Zecchini sold 1,500 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $27.70, for a total value of $41,550.00. Following the transaction, the chief accounting officer now directly owns 5,672 shares of the company’s stock, valued at approximately $157,114.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.73% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Systematic Financial Management LP bought a new stake in Macerich in the 3rd quarter valued at about $558,000. Mason Street Advisors LLC grew its position in shares of Macerich by 3.9% during the 3rd quarter. Mason Street Advisors LLC now owns 15,698 shares of the real estate investment trust’s stock worth $496,000 after purchasing an additional 591 shares in the last quarter. Arrow Investment Advisors LLC bought a new position in shares of Macerich during the third quarter worth approximately $353,000. Lavaca Capital LLC bought a new position in shares of Macerich during the third quarter worth approximately $263,000. Finally, SG Americas Securities LLC increased its holdings in shares of Macerich by 10.3% during the third quarter. SG Americas Securities LLC now owns 61,402 shares of the real estate investment trust’s stock worth $1,940,000 after purchasing an additional 5,710 shares during the period.

NYSE:MAC traded down $0.79 on Friday, hitting $26.42. The company’s stock had a trading volume of 2,705,692 shares, compared to its average volume of 1,939,758. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.77. The stock has a fifty day moving average of $28.25 and a two-hundred day moving average of $32.55. The firm has a market capitalization of $3.93 billion, a P/E ratio of 6.86, a price-to-earnings-growth ratio of 4.32 and a beta of 0.73. Macerich has a one year low of $26.87 and a one year high of $51.08.

Macerich (NYSE:MAC) last released its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.02). Macerich had a net margin of 8.76% and a return on equity of 2.69%. The business had revenue of $214.30 million during the quarter, compared to analyst estimates of $216.69 million. During the same period in the previous year, the business earned $0.52 earnings per share. The business’s quarterly revenue was down 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Macerich will post 3.56 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 8th will be paid a $0.75 dividend. The ex-dividend date is Thursday, November 7th. This represents a $3.00 annualized dividend and a yield of 11.36%. Macerich’s dividend payout ratio (DPR) is presently 77.92%.

Macerich Company Profile

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.

Featured Story: Are FAANG stocks a good investment?

Analyst Recommendations for Macerich (NYSE:MAC)

Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with's FREE daily email newsletter.