The Goldman Sachs Group Issues Pessimistic Forecast for Macerich (NYSE:MAC) Stock Price

Macerich (NYSE:MAC) had its price target decreased by stock analysts at The Goldman Sachs Group from $16.70 to $14.40 in a research report issued on Monday,Benzinga reports. The firm currently has a “sell” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s price objective indicates a potential downside of 11.79% from the stock’s current price.

A number of other research firms have also recently commented on MAC. Morgan Stanley raised shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 target price for the company in a research note on Wednesday, January 15th. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $22.00 in a research note on Wednesday, December 4th. JPMorgan Chase & Co. cut 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. Scotiabank cut 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. Finally, Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and boosted their target price for the stock from $19.00 to $23.00 in a research note on Thursday, January 2nd. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Macerich has an average rating of “Hold” and a consensus price target of $19.03.

Macerich Stock Up 2.8 %

MAC opened at $16.33 on Monday. Macerich has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The company has a fifty day moving average of $19.76 and a two-hundred day moving average of $19.06. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 0.71 and a beta of 2.62.

Insider Buying and Selling

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were 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. The trade was a 43.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Macerich

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in Macerich in the 4th quarter valued at about $30,000. Lazard Asset Management LLC acquired a new position in Macerich in the 4th quarter valued at about $45,000. Blue Trust Inc. boosted 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 valued at $48,000 after purchasing an additional 1,064 shares during the last quarter. State of Wyoming acquired a new position in Macerich in the 4th quarter valued at about $55,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Macerich by 314.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 2,630 shares during 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.