The Macerich Company (NYSE:MAC) Receives $19.30 Average Target Price from Brokerages

The Macerich Company (NYSE:MAC - Get Free Report) has been assigned an average rating of "Hold" from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $19.30.

A number of research firms have recently commented on MAC. Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and lifted their target price for the stock from $19.00 to $23.00 in a research note on Thursday, January 2nd. Morgan Stanley upgraded Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 target price on the stock in a research note on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft began coverage on Macerich in a research note on Tuesday, December 17th. They set a "hold" rating and a $22.00 target price on the stock. Mizuho upgraded Macerich from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $14.00 to $22.00 in a research note on Wednesday, December 4th. Finally, StockNews.com cut Macerich from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th.

Macerich Stock Up 1.5 %

NYSE:MAC traded up $0.31 during trading hours on Monday, hitting $20.79. 2,135,249 shares of the company traded hands, compared to its average volume of 1,605,084. The company has a market cap of $5.17 billion, a PE ratio of 53.30, a PEG ratio of 0.72 and a beta of 2.50. Macerich has a one year low of $12.99 and a one year high of $22.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The firm's 50-day simple moving average is $20.44 and its 200-day simple moving average is $18.53.

Insider Buying and Selling

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now owns 83,479 shares in the company, valued at approximately $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Macerich

Hedge funds have recently made changes to their positions in the business. Citigroup Inc. grew its stake in shares of Macerich by 32.3% in the third quarter. Citigroup Inc. now owns 359,069 shares of the real estate investment trust's stock worth $6,549,000 after acquiring an additional 87,611 shares during the last quarter. Quest Partners LLC grew its stake in shares of Macerich by 851.9% in the third quarter. Quest Partners LLC now owns 30,529 shares of the real estate investment trust's stock worth $557,000 after acquiring an additional 27,322 shares during the last quarter. Bamco Inc. NY grew its stake in shares of Macerich by 742.3% in the third quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust's stock worth $30,924,000 after acquiring an additional 1,494,145 shares during the last quarter. Smead Capital Management Inc. grew its stake in shares of Macerich by 3.5% in the third quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust's stock worth $372,706,000 after acquiring an additional 688,790 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of Macerich in the fourth quarter worth $771,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

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.