The Macerich Company (NYSE:MAC - Get Free Report) has been given an average rating of "Hold" by the twelve analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $19.13.
Several research firms recently commented on MAC. Scotiabank cut their target price on Macerich from $22.00 to $21.00 and set a "sector perform" rating for the company in a research report on Thursday. Mizuho upgraded Macerich from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Morgan Stanley raised Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 price target for the company in a report on Wednesday, January 15th. Jefferies Financial Group raised Macerich from a "hold" rating to a "buy" rating and raised their price target for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Finally, Piper Sandler dropped their price target on Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a report on Friday, February 28th.
Get Our Latest Research Report on MAC
Macerich Stock Performance
Shares of MAC stock traded down $0.73 during mid-day trading on Friday, reaching $16.87. The stock had a trading volume of 2,176,728 shares, compared to its average volume of 1,790,931. 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 has a market cap of $4.26 billion, a PE ratio of 43.24, a P/E/G ratio of 0.71 and a beta of 2.62. Macerich has a one year low of $12.99 and a one year high of $22.27. The firm's 50 day simple moving average is $19.92 and its 200 day simple moving average is $19.05.
Macerich Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be given a $0.17 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 4.03%. Macerich's dividend payout ratio is currently -86.08%.
Insider Transactions at Macerich
In other news, Director Andrea M. Stephen sold 63,289 shares of the firm'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 directly owns 83,479 shares in the company, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in MAC. Janney Montgomery Scott LLC boosted its position in shares of Macerich by 26.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 47,804 shares of the real estate investment trust's stock worth $872,000 after purchasing an additional 9,943 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Macerich by 12.3% during the third quarter. Van ECK Associates Corp now owns 37,235 shares of the real estate investment trust's stock worth $681,000 after acquiring an additional 4,086 shares in the last quarter. Assetmark Inc. lifted its holdings in Macerich by 5.6% during the third quarter. Assetmark Inc. now owns 18,404 shares of the real estate investment trust's stock worth $336,000 after acquiring an additional 971 shares in the last quarter. Versor Investments LP bought a new position in Macerich during the third quarter worth about $516,000. Finally, Victory Capital Management Inc. lifted its holdings in Macerich by 7.7% during the third quarter. Victory Capital Management Inc. now owns 89,058 shares of the real estate investment trust's stock worth $1,624,000 after acquiring an additional 6,346 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.
About Macerich
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Get Free ReportMacerich 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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