Morgan Stanley Issues Pessimistic Forecast for Macerich (NYSE:MAC) Stock Price

Macerich (NYSE:MAC) had its price target reduced by equities research analysts at Morgan Stanley from $20.00 to $19.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price target indicates a potential upside of 7.16% from the company’s previous close.

Several other research analysts have also weighed in on MAC. Scotiabank reduced their price objective on shares of Macerich from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 6th. Piper Sandler cut their target price on Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, February 28th. 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 report on Monday, March 10th. Mizuho upgraded 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 report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Macerich in a research note on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Macerich currently has a consensus rating of “Hold” and a consensus price target of $19.37.

Macerich Trading Up 3.9 %

Shares of MAC opened at $17.73 on Tuesday. The firm has a market capitalization of $4.48 billion, a PE ratio of 45.46, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. 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 12-month low of $12.99 and a 12-month high of $22.27. The stock’s fifty day simple moving average is $18.88 and its 200-day simple moving average is $19.20.

Hedge Funds Weigh In On Macerich

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fairtree Asset Management Pty Ltd acquired a new position in shares of Macerich in the 4th quarter worth approximately $515,000. California State Teachers Retirement System lifted its holdings in Macerich by 13.4% in the fourth 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 buying an additional 27,396 shares during the period. GF Fund Management CO. LTD. bought a new stake in Macerich during the fourth quarter valued at $90,000. Public Employees Retirement System of Ohio grew its holdings in Macerich by 12.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 352,623 shares of the real estate investment trust’s stock worth $7,024,000 after acquiring an additional 38,623 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Macerich by 4.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,619,222 shares of the real estate investment trust’s stock worth $32,255,000 after acquiring an additional 72,849 shares in the last quarter. 87.38% of the stock is 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.