The Macerich Company (NYSE:MAC) Receives $15.19 Consensus Price Target from Analysts

Shares of The Macerich Company (NYSE:MAC) have earned an average recommendation of “Reduce” from the eight research firms that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $15.19.

Several equities research analysts recently commented on MAC shares. StockNews.com raised shares of Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group cut their price target on shares of Macerich from $14.00 to $12.50 and set a “sell” rating for the company in a report on Monday, June 17th. Evercore ISI boosted their price target on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Finally, Piper Sandler boosted their price target on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Macerich by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 34,672,065 shares of the real estate investment trust’s stock valued at $597,400,000 after acquiring an additional 193,787 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Macerich by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,217,373 shares of the real estate investment trust’s stock valued at $49,675,000 after buying an additional 126,192 shares during the last quarter. Norges Bank acquired a new position in Macerich in the fourth quarter valued at about $22,210,000. Renaissance Technologies LLC lifted its position in Macerich by 10.4% in the second quarter. Renaissance Technologies LLC now owns 1,233,600 shares of the real estate investment trust’s stock valued at $19,047,000 after buying an additional 116,200 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in Macerich in the fourth quarter valued at about $18,938,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Price Performance

NYSE:MAC opened at $16.59 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of -10.63, a price-to-earnings-growth ratio of 0.53 and a beta of 2.49. The company has a 50 day moving average price of $15.53 and a 200-day moving average price of $15.53. Macerich has a 1-year low of $9.21 and a 1-year high of $17.69.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 19th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.68 annualized dividend and a yield of 4.10%. Macerich’s dividend payout ratio (DPR) is presently -43.59%.

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.