Macerich (NYSE:MAC - Free Report) had its target price decreased by Piper Sandler from $17.00 to $16.00 in a report issued on Friday morning,Benzinga reports. Piper Sandler currently has an underweight rating on the real estate investment trust's stock.
A number of other equities research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft started coverage on Macerich in a research note on Tuesday, December 17th. They issued a "hold" rating and a $22.00 price objective for the company. Mizuho upgraded shares of Macerich from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. Morgan Stanley upgraded shares of Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 price objective on the stock in a report on Wednesday, January 15th. Compass Point lifted their price objective on shares of Macerich from $20.00 to $23.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group upgraded shares of Macerich from a "hold" rating to a "buy" rating and upped their target price for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $19.22.
View Our Latest Stock Report on Macerich
Macerich Trading Down 2.4 %
Shares of MAC traded down $0.44 during trading hours on Friday, hitting $17.79. 2,241,637 shares of the stock were exchanged, compared to its average volume of 1,781,042. The firm has a market capitalization of $4.42 billion, a P/E ratio of 45.61, a price-to-earnings-growth ratio of 0.71 and a beta of 2.50. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. Macerich has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. The business has a 50-day moving average of $20.13 and a 200-day moving average of $18.97.
Macerich Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 3.82%. Macerich's dividend payout ratio is currently -86.08%.
Insider Transactions at Macerich
In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the business's stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total value of $1,303,120.51. Following the transaction, the director now owns 83,479 shares of the company's stock, valued at approximately $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.53% of the company's stock.
Institutional Investors Weigh In On Macerich
A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its holdings 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 worth $28,000 after buying an additional 933 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Macerich by 1,298.4% during the 3rd quarter. International Assets Investment Management LLC now owns 260,598 shares of the real estate investment trust's stock worth $4,753,000 after purchasing an additional 241,963 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Macerich by 34.8% in 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 purchasing an additional 2,161 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in Macerich by 5.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 139,352 shares of the real estate investment trust's stock valued at $2,452,000 after purchasing an additional 7,554 shares during the last quarter. Finally, abrdn plc grew its holdings in Macerich by 9.2% during the third quarter. abrdn plc now owns 42,971 shares of the real estate investment trust's stock valued at $784,000 after purchasing an additional 3,636 shares during the period. 87.38% of the stock is currently owned by institutional investors.
About Macerich
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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.
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