Macerich (NYSE:MAC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Macerich (NYSE:MAC - Get Free Report) had its price target raised by Piper Sandler from $14.00 to $17.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the real estate investment trust's stock. Piper Sandler's price target suggests a potential downside of 20.32% from the company's current price.

Other equities research analysts have also recently issued reports about the company. StockNews.com downgraded Macerich from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Bank of America lifted their price target on Macerich from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, October 11th. The Goldman Sachs Group increased their price objective on shares of Macerich from $13.00 to $14.60 and gave the stock a "sell" rating in a report on Thursday, September 19th. Compass Point boosted their target price on shares of Macerich from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, Mizuho raised shares of Macerich from an "underperform" rating to a "neutral" rating and increased their price target for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Macerich presently has a consensus rating of "Hold" and an average target price of $17.62.

Macerich Price Performance

Shares of MAC traded up $0.01 during trading hours on Wednesday, hitting $21.34. The stock had a trading volume of 1,380,618 shares, compared to its average volume of 1,869,900. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 54.68, a P/E/G ratio of 0.77 and a beta of 2.51. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The company's fifty day moving average is $19.31 and its two-hundred day moving average is $16.87. Macerich has a 52 week low of $12.99 and a 52 week high of $22.27.

Macerich (NYSE:MAC - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS 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 analyst estimates of $208.54 million. During the same quarter last year, the firm earned $0.44 earnings per share. Macerich's quarterly revenue was up .9% on a year-over-year basis. On average, analysts anticipate that Macerich will post 1.56 EPS for the current year.

Institutional Trading of Macerich

A number of institutional investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its position in shares of Macerich by 152.2% in the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 933 shares during the last quarter. Quest Partners LLC acquired a new position in Macerich in the second quarter valued at about $50,000. GAMMA Investing LLC boosted its holdings 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 buying an additional 933 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Macerich during the 2nd quarter worth about $129,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Macerich by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust's stock worth $150,000 after buying an additional 2,161 shares during the period. Institutional investors and hedge funds 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.