StockNews.com Downgrades Macerich (NYSE:MAC) to Sell

Macerich (NYSE:MAC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

A number of other research analysts also recently weighed in on MAC. Piper Sandler upped their target price on Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd. Bank of America upped their price target on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Compass Point lifted their price objective on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group raised their price target on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a report on Thursday, September 19th. Finally, Evercore ISI upped their price target on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Five research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.40.

Macerich Price Performance

Shares of Macerich stock opened at $19.53 on Thursday. The business has a 50 day moving average of $17.62 and a 200 day moving average of $16.05. Macerich has a 52 week low of $9.90 and a 52 week high of $20.27. The company has a market cap of $4.22 billion, a PE ratio of 50.07, a P/E/G ratio of 0.62 and a beta of 2.50. The company has a quick ratio of 0.86, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Institutional Investors Weigh In On Macerich

A number of large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its holdings in shares of Macerich by 47.0% in the first quarter. Janney Montgomery Scott LLC now owns 33,768 shares of the real estate investment trust’s stock worth $582,000 after acquiring an additional 10,790 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Macerich by 7.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 70,098 shares of the real estate investment trust’s stock valued at $1,208,000 after purchasing an additional 4,691 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Macerich during the 1st quarter valued at about $602,000. GSA Capital Partners LLP bought a new position in shares of Macerich in the 1st quarter worth approximately $807,000. Finally, Texas Permanent School Fund Corp boosted its holdings in shares of Macerich by 1.6% in the first quarter. Texas Permanent School Fund Corp now owns 189,021 shares of the real estate investment trust’s stock worth $3,257,000 after buying an additional 2,929 shares during the last quarter. Institutional investors own 87.38% of the company’s stock.

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.