The Macerich Company (NYSE:MAC – Get Free Report) has been assigned an average recommendation of “Reduce” from the seven analysts that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $14.64.
A number of research analysts recently weighed in on the stock. Mizuho cut their target price on shares of Macerich from $17.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, May 1st. The Goldman Sachs Group cut their target price 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. Compass Point cut their target price on shares of Macerich from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Piper Sandler lowered shares of Macerich from a “neutral” rating to an “underweight” rating and cut their target price for the company from $17.00 to $11.00 in a report on Wednesday, May 1st. Finally, Scotiabank lowered shares of Macerich from a “sector perform” rating to a “sector underperform” rating and cut their target price for the company from $16.00 to $14.00 in a report on Friday, May 17th.
Get Our Latest Report on Macerich
Insider Activity
Hedge Funds Weigh In On Macerich
Large investors have recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in Macerich by 152.4% in the fourth quarter. Signaturefd LLC now owns 2,166 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,308 shares in the last quarter. Quest Partners LLC bought a new position in Macerich in the fourth quarter worth about $41,000. Fidelis Capital Partners LLC acquired a new position in shares of Macerich during the first quarter valued at about $46,000. GAMMA Investing LLC acquired a new position in shares of Macerich during the fourth quarter valued at about $90,000. Finally, Bailard Inc. acquired a new position in shares of Macerich during the fourth quarter valued at about $159,000. 87.38% of the stock is currently owned by institutional investors.
Macerich Trading Up 0.2 %
Macerich stock opened at $16.27 on Thursday. The stock has a market cap of $3.51 billion, a P/E ratio of -10.43, a PEG ratio of 0.53 and a beta of 2.51. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.03 and a quick ratio of 1.03. Macerich has a 1 year low of $9.21 and a 1 year high of $17.69. The firm’s 50 day moving average price is $15.19 and its 200-day moving average price is $15.79.
Macerich Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 19th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend is Monday, August 19th. Macerich’s dividend payout ratio is currently -43.59%.
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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