The Macerich Company (NYSE:MAC) Receives Average Rating of “Reduce” from Analysts

The Macerich Company (NYSE:MAC) has been given an average rating of “Reduce” by the thirteen research firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $19.03.

A number of brokerages have issued reports on MAC. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a research note on Tuesday, December 17th. They set a “hold” rating and a $22.00 price target on the stock. The Goldman Sachs Group cut their target price on shares of Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a research note on Monday. JPMorgan Chase & Co. decreased their price target on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a research report on Monday. Scotiabank cut their price objective on Macerich from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 6th. Finally, Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th.

Macerich Trading Up 2.8 %

Shares of NYSE MAC opened at $16.33 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $4.12 billion, a PE ratio of 41.86, a PEG ratio of 0.71 and a beta of 2.62. Macerich has a twelve month low of $12.99 and a twelve month high of $22.27. The stock has a fifty day simple moving average of $19.76 and a 200-day simple moving average of $19.06.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Tuesday, March 4th. Macerich’s dividend payout ratio (DPR) is presently -86.08%.

Insider Buying and Selling

In related news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the sale, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Macerich

Several hedge funds have recently made changes to their positions in MAC. GF Fund Management CO. LTD. purchased a new stake in shares of Macerich in the 4th quarter valued at about $90,000. Public Employees Retirement System of Ohio lifted its stake in Macerich by 12.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 352,623 shares of the real estate investment trust’s stock valued at $7,024,000 after buying an additional 38,623 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Macerich by 4.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,619,222 shares of the real estate investment trust’s stock valued at $32,255,000 after acquiring an additional 72,849 shares during the period. Woodline Partners LP purchased a new position in shares of Macerich during the fourth quarter worth approximately $16,778,000. Finally, State of Wyoming acquired a new position in shares of Macerich in the 4th quarter valued at $55,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

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.