Macerich (NYSE:MAC) Stock Rating Upgraded by Truist Financial

Truist Financial upgraded shares of Macerich (NYSE:MAC - Free Report) from a hold rating to a buy rating in a report published on Thursday morning, MarketBeat Ratings reports. They currently have $19.00 price objective on the real estate investment trust's stock.

A number of other research analysts also recently issued reports on the stock. 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 report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Macerich in a research note on Tuesday, December 17th. They issued a "hold" rating and a $22.00 target price on the stock. Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and upped their price objective for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their target price 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. Finally, Piper Sandler dropped their price target on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, February 28th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Macerich has a consensus rating of "Hold" and a consensus target price of $19.37.

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Macerich Stock Performance

Shares of Macerich stock traded up $0.27 on Thursday, reaching $14.32. 1,095,935 shares of the stock were exchanged, compared to its average volume of 2,289,816. The business has a 50 day moving average price of $17.62 and a two-hundred day moving average price of $18.99. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 0.71 and a beta of 2.17. Macerich has a twelve month low of $12.48 and a twelve month 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.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 annualized dividend and a yield of 4.75%. Macerich's dividend payout ratio is presently -86.08%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MAC. SG Americas Securities LLC lifted its position in Macerich by 89.2% during the first quarter. SG Americas Securities LLC now owns 49,798 shares of the real estate investment trust's stock worth $855,000 after buying an additional 23,475 shares in the last quarter. Vert Asset Management LLC grew its holdings in shares of Macerich by 11.3% in the first quarter. Vert Asset Management LLC now owns 112,971 shares of the real estate investment trust's stock valued at $1,940,000 after purchasing an additional 11,485 shares during the period. GAMMA Investing LLC increased its position in Macerich by 1,644.0% during the first quarter. GAMMA Investing LLC now owns 76,527 shares of the real estate investment trust's stock worth $1,314,000 after purchasing an additional 72,139 shares during the last quarter. Fairtree Asset Management Pty Ltd purchased a new position in Macerich during the fourth quarter worth about $515,000. Finally, California State Teachers Retirement System boosted its holdings in Macerich by 13.4% in the 4th quarter. California State Teachers Retirement System now owns 231,559 shares of the real estate investment trust's stock valued at $4,613,000 after purchasing an additional 27,396 shares during the last quarter. 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.