Macerich (NYSE:MAC) Sees Strong Trading Volume - What's Next?

The Macerich Company (NYSE:MAC - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 5,026,377 shares were traded during trading, an increase of 172% from the previous session's volume of 1,846,414 shares.The stock last traded at $21.21 and had previously closed at $21.15.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Macerich from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their target price on Macerich from $13.00 to $14.60 and gave the company a "sell" rating in a report on Thursday, September 19th. Piper Sandler boosted their price target on Macerich from $11.00 to $14.00 and gave the company an "underweight" rating in a research report on Tuesday, September 3rd. Evercore ISI raised their price objective on Macerich from $15.00 to $16.00 and gave the stock an "in-line" rating in a report on Wednesday, August 28th. Finally, Bank of America boosted their target price on Macerich from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Friday, October 11th. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $16.40.

Macerich Stock Up 0.3 %

The firm's 50 day moving average price is $18.78 and its two-hundred day moving average price is $16.56. The firm has a market capitalization of $4.78 billion, a PE ratio of 54.39, a P/E/G ratio of 0.72 and a beta of 2.50. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich (NYSE:MAC - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.90). Macerich had a net margin of 8.98% and a return on equity of 3.15%. The firm had revenue of $220.20 million during the quarter, compared to analysts' expectations of $208.54 million. During the same period in the previous year, the company earned $0.44 earnings per share. The business's quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts forecast that The Macerich Company will post 1.59 EPS for the current fiscal year.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Tuesday, November 12th. Macerich's dividend payout ratio (DPR) is currently 174.36%.

Institutional Trading of Macerich

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in Macerich by 152.2% during the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 933 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Macerich during the 2nd quarter valued at approximately $50,000. GAMMA Investing LLC lifted its stake in Macerich by 40.9% during the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 933 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Macerich in the second quarter worth $129,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Macerich by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust's stock valued at $150,000 after purchasing an additional 2,161 shares during the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

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.