The Macerich Company (NYSE:MAC) Given Consensus Recommendation of "Reduce" by Brokerages

Shares of The Macerich Company (NYSE:MAC - Get Free Report) have earned an average recommendation of "Reduce" from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $19.37.

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research note on Monday, March 10th. Morgan Stanley reduced their price target on Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Tuesday. The Goldman Sachs Group decreased their price objective on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday, March 10th. Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and lifted their target price for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. Finally, Piper Sandler decreased their price target on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, February 28th.

Macerich Trading Down 7.4 %

MAC traded down $1.15 during trading hours on Tuesday, reaching $14.45. 2,412,188 shares of the company's stock traded hands, compared to its average volume of 1,920,261. The firm has a 50-day moving average price of $18.79 and a 200 day moving average price of $19.18. The firm has a market capitalization of $3.65 billion, a PE ratio of 37.03, a PEG ratio of 0.71 and a beta of 2.17. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. Macerich has a 52-week low of $12.99 and a 52-week high of $22.27.

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Macerich Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.71%. The ex-dividend date was Tuesday, March 4th. Macerich's dividend payout ratio (DPR) is -86.08%.

Hedge Funds Weigh In On Macerich

Several large investors have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of Macerich in the fourth quarter worth about $30,000. Lazard Asset Management LLC purchased a new position in shares of Macerich in the 4th quarter valued at about $45,000. Blue Trust Inc. raised its holdings in Macerich by 68.8% in the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 1,064 shares during the period. State of Wyoming acquired a new stake in Macerich in the fourth quarter valued at approximately $55,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Macerich by 314.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock valued at $69,000 after buying an additional 2,630 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

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.