The Macerich Company (NYSE:MAC) Given Average Rating of "Reduce" by Analysts

Shares of The Macerich Company (NYSE:MAC - Get Free Report) have been assigned an average recommendation of "Reduce" from the seven analysts that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $14.64.

A number of equities analysts have weighed in on the company. Compass Point decreased their target price on Macerich from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, May 1st. Scotiabank lowered Macerich from a "sector perform" rating to a "sector underperform" rating and reduced their price objective for the company from $16.00 to $14.00 in a research report on Friday, May 17th. Piper Sandler lowered Macerich from a "neutral" rating to an "underweight" rating and reduced their price objective for the company from $17.00 to $11.00 in a research report on Wednesday, May 1st. The Goldman Sachs Group reduced their price objective on Macerich from $14.00 to $12.50 and set a "sell" rating on the stock in a research report on Monday, June 17th. Finally, Truist Financial reiterated a "hold" rating and set a $16.00 price objective on shares of Macerich in a research report on Monday, March 25th.

Insider Activity at Macerich

In related news, CEO Jackson Hsieh bought 140,000 shares of the company's stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $14.26 per share, for a total transaction of $1,996,400.00. Following the acquisition, the chief executive officer now directly owns 170,500 shares of the company's stock, valued at approximately $2,431,330. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Macerich news, CFO Scott W. Kingsmore acquired 6,000 shares of the company's stock in a transaction on Thursday, May 9th. The stock was acquired at an average price of $16.06 per share, for a total transaction of $96,360.00. Following the acquisition, the chief financial officer now owns 42,310 shares in the company, valued at approximately $679,498.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jackson Hsieh acquired 140,000 shares of the company's stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $14.26 per share, with a total value of $1,996,400.00. Following the acquisition, the chief executive officer now owns 170,500 shares in the company, valued at approximately $2,431,330. The disclosure for this purchase can be found here. Insiders purchased 163,365 shares of company stock worth $2,358,681 in the last ninety days. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Macerich

Several institutional investors and hedge funds have recently bought and sold shares of MAC. Y.D. More Investments Ltd lifted its stake in shares of Macerich by 0.9% in the 4th quarter. Y.D. More Investments Ltd now owns 81,330 shares of the real estate investment trust's stock valued at $1,255,000 after purchasing an additional 745 shares during the period. SeaCrest Wealth Management LLC lifted its stake in shares of Macerich by 1.6% in the 1st quarter. SeaCrest Wealth Management LLC now owns 60,937 shares of the real estate investment trust's stock valued at $1,050,000 after purchasing an additional 978 shares during the period. Metis Global Partners LLC lifted its stake in shares of Macerich by 8.2% in the 4th quarter. Metis Global Partners LLC now owns 13,666 shares of the real estate investment trust's stock valued at $211,000 after purchasing an additional 1,040 shares during the period. Swiss National Bank lifted its stake in shares of Macerich by 0.3% in the 1st quarter. Swiss National Bank now owns 425,415 shares of the real estate investment trust's stock valued at $7,330,000 after purchasing an additional 1,200 shares during the period. Finally, CIBC Asset Management Inc increased its position in Macerich by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 23,313 shares of the real estate investment trust's stock valued at $360,000 after buying an additional 1,275 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company's stock.

Macerich Price Performance

NYSE MAC traded up $0.29 during trading on Friday, reaching $15.44. The company's stock had a trading volume of 3,867,154 shares, compared to its average volume of 1,520,502. The stock has a market capitalization of $3.33 billion, a PE ratio of -9.90, a P/E/G ratio of 3.18 and a beta of 2.43. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a fifty day moving average of $15.08 and a 200 day moving average of $15.79. Macerich has a one year low of $9.21 and a one year high of $17.69.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.40%. The ex-dividend date was Friday, May 17th. Macerich's dividend payout ratio is presently -43.59%.

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.