The Macerich Company (NYSE:MAC) Given Average Rating of “Reduce” by Analysts

The Macerich Company (NYSE:MAC) has been given an average recommendation of “Reduce” by the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.86.

Several equities analysts recently commented on MAC shares. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. Bank of America increased their price target on Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Compass Point boosted their price objective on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Scotiabank raised Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 target price for the company in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group lifted their price target on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research note on Thursday, September 19th.

Macerich Price Performance

Macerich stock opened at $20.58 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. Macerich has a 52 week low of $12.99 and a 52 week high of $22.27. The stock has a market capitalization of $5.11 billion, a P/E ratio of 52.77, a price-to-earnings-growth ratio of 0.75 and a beta of 2.51. The stock has a fifty day moving average of $19.94 and a 200-day moving average of $17.31.

Macerich (NYSE:MAC) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The business had revenue of $220.20 million for the quarter, compared to analyst estimates of $208.54 million. During the same period in the previous year, the firm posted $0.44 EPS. The firm’s revenue was up .9% compared to the same quarter last year. On average, sell-side analysts expect that Macerich will post 1.56 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.30%. The ex-dividend date was Tuesday, November 12th. Macerich’s payout ratio is presently 174.36%.

Institutional Investors Weigh In On Macerich

Large investors have recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its position in Macerich by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 108,500 shares of the real estate investment trust’s stock valued at $1,675,000 after acquiring an additional 1,500 shares during the last quarter. Bailard Inc. bought a new stake in Macerich in the second quarter worth approximately $468,000. Leisure Capital Management bought a new stake in Macerich in the second quarter worth approximately $571,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Macerich by 1.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,018 shares of the real estate investment trust’s stock valued at $1,483,000 after buying an additional 1,798 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Macerich by 6.9% during the 2nd quarter. Van ECK Associates Corp now owns 33,149 shares of the real estate investment trust’s stock worth $512,000 after buying an additional 2,147 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

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.