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

Shares of The Macerich Company (NYSE:MAC - Get Free Report) have received a consensus rating of "Reduce" from the nine research firms that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $15.84.

Several equities analysts have weighed in on the company. StockNews.com raised Macerich from a "sell" rating to a "hold" rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their price objective on Macerich from $13.00 to $14.60 and gave the stock a "sell" rating in a research report on Thursday, September 19th. Bank of America boosted their target price on shares of Macerich from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, October 11th. Piper Sandler raised their price target on shares of Macerich from $11.00 to $14.00 and gave the stock an "underweight" rating in a research note on Tuesday, September 3rd. Finally, Evercore ISI boosted their price objective on shares of Macerich from $15.00 to $16.00 and gave the company an "in-line" rating in a research report on Wednesday, August 28th.

Institutional Trading of Macerich

Several hedge funds have recently added to or reduced their stakes in MAC. DekaBank Deutsche Girozentrale raised its stake in shares of Macerich by 158.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 131,487 shares of the real estate investment trust's stock worth $2,201,000 after buying an additional 80,541 shares in the last quarter. Murphy Pohlad Asset Management LLC grew its holdings in Macerich by 297.7% during the second quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust's stock worth $1,707,000 after acquiring an additional 82,760 shares during the period. UniSuper Management Pty Ltd lifted its holdings in Macerich by 82.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 112,724 shares of the real estate investment trust's stock valued at $1,942,000 after acquiring an additional 50,989 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Macerich by 1,845.1% in the 1st quarter. Russell Investments Group Ltd. now owns 1,168,864 shares of the real estate investment trust's stock valued at $20,133,000 after acquiring an additional 1,108,770 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of Macerich during the 2nd quarter valued at about $10,625,000. Institutional investors own 87.38% of the company's stock.

Macerich Price Performance

MAC traded down $0.38 during trading on Friday, reaching $18.32. 1,583,042 shares of the stock were exchanged, compared to its average volume of 1,177,128. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.76. Macerich has a 1 year low of $9.90 and a 1 year high of $19.09. The business's 50 day moving average price is $17.30 and its two-hundred day moving average price is $15.92.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.17 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.68 annualized dividend and a yield of 3.71%. Macerich's dividend payout ratio is presently -206.05%.

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.