Morgan Stanley Issues Pessimistic Forecast for Macerich (NYSE:MAC) Stock Price

Macerich (NYSE:MAC - Free Report) had its target price lowered by Morgan Stanley from $20.00 to $19.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust's stock.

A number of other equities analysts have also recently weighed in on MAC. JPMorgan Chase & Co. reduced their price target on Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a report on Monday, March 10th. Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and increased their target price for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Piper Sandler reduced their price objective on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Macerich in a research note on Tuesday, December 17th. They set a "hold" rating and a $22.00 target price for the company. Finally, The Goldman Sachs Group decreased their price target on shares of Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research note on Monday, March 10th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Macerich presently has an average rating of "Hold" and a consensus target price of $19.37.

Remove Ads

Macerich Price Performance

Shares of Macerich stock traded down $1.38 during trading hours on Tuesday, reaching $14.22. The stock had a trading volume of 292,321 shares, compared to its average volume of 1,911,909. The stock's 50 day moving average is $18.79 and its 200 day moving average is $19.18. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. Macerich has a twelve month low of $12.99 and a twelve month high of $22.27. The firm has a market capitalization of $3.59 billion, a PE ratio of 36.53, a PEG ratio of 0.71 and a beta of 2.17.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 4.78%. Macerich's dividend payout ratio is presently -86.08%.

Hedge Funds Weigh In On Macerich

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new position in shares of Macerich during the 4th quarter valued at about $30,000. Lazard Asset Management LLC purchased a new position in Macerich during the fourth quarter worth about $45,000. Blue Trust Inc. boosted its holdings in Macerich by 68.8% in the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 1,064 shares during the last quarter. State of Wyoming acquired a new stake in shares of Macerich during the 4th quarter worth approximately $55,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Macerich by 314.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock valued at $69,000 after acquiring an additional 2,630 shares during the last quarter. 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.