Truist Financial Has Lowered Expectations for Macerich (NYSE:MAC) Stock Price

Macerich (NYSE:MAC - Get Free Report) had its price objective dropped by research analysts at Truist Financial from $23.00 to $19.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "hold" rating on the real estate investment trust's stock. Truist Financial's price target would indicate a potential upside of 30.85% from the company's current price.

A number of other equities research analysts have also weighed in on MAC. Scotiabank decreased their target price on shares of Macerich from $22.00 to $21.00 and set a "sector perform" rating for the company in a research note on Thursday, March 6th. Piper Sandler cut their price objective on Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a report on Friday, February 28th. JPMorgan Chase & Co. lowered their target price on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a report on Monday, March 10th. The Goldman Sachs Group cut their price target on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday, March 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a research note on Tuesday, December 17th. They issued a "hold" rating and a $22.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $19.37.

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Macerich Stock Performance

Shares of Macerich stock traded down $1.08 during trading on Tuesday, hitting $14.52. 4,999,722 shares of the company's stock traded hands, compared to its average volume of 1,930,105. Macerich has a 1 year low of $12.99 and a 1 year high of $22.27. The business has a 50-day simple moving average of $18.79 and a 200-day simple moving average of $19.18. The stock has a market capitalization of $3.67 billion, a P/E ratio of 37.23, a PEG ratio of 0.71 and a beta of 2.17. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

Institutional Trading of Macerich

A number of large investors have recently made changes to their positions in MAC. Cerity Partners LLC lifted its holdings in Macerich by 21.9% during the 3rd quarter. Cerity Partners LLC now owns 31,368 shares of the real estate investment trust's stock valued at $572,000 after buying an additional 5,642 shares in the last quarter. FMR LLC raised its stake in shares of Macerich by 12,475.9% during the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust's stock valued at $214,738,000 after acquiring an additional 11,679,276 shares in the last quarter. Townsquare Capital LLC boosted its holdings in shares of Macerich by 7.2% in the third quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust's stock valued at $245,000 after purchasing an additional 902 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Macerich by 399.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust's stock worth $28,206,000 after purchasing an additional 1,236,983 shares in the last quarter. Finally, Bamco Inc. NY increased its holdings in Macerich by 742.3% during the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust's stock worth $30,924,000 after purchasing an additional 1,494,145 shares during the period. 87.38% of the stock is owned by hedge funds and other institutional investors.

About Macerich

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.