Brokerages Set The Macerich Company (NYSE:MAC) PT at $15.19

by · The Markets Daily

Shares of The Macerich Company (NYSE:MAC – Get Free Report) have been assigned an average rating of “Reduce” from the eight research firms that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $15.45.

A number of equities research analysts recently commented on MAC shares. The Goldman Sachs Group increased their price objective on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research note on Thursday. Piper Sandler increased their price target on shares of Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research report on Tuesday, September 3rd. Evercore ISI lifted their price objective on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Finally, StockNews.com raised Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd.

Check Out Our Latest Report on Macerich

Macerich Stock Up 3.0 %

Macerich stock opened at $17.26 on Friday. Macerich has a fifty-two week low of $9.21 and a fifty-two week high of $17.69. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of -11.06, a price-to-earnings-growth ratio of 0.53 and a beta of 2.49. The stock’s fifty day moving average is $15.59 and its two-hundred day moving average is $15.54. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 0.86.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 19th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.94%. Macerich’s dividend payout ratio (DPR) is presently -43.59%.

Institutional Trading of Macerich

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Macerich in the second quarter valued at about $129,000. Sanctuary Advisors LLC acquired a new stake in Macerich in the second quarter valued at approximately $287,000. Algert Global LLC raised its stake in shares of Macerich by 35.0% during the second quarter. Algert Global LLC now owns 158,841 shares of the real estate investment trust’s stock valued at $2,453,000 after purchasing an additional 41,141 shares during the period. Millennium Management LLC lifted its position in shares of Macerich by 153.0% during the second quarter. Millennium Management LLC now owns 791,903 shares of the real estate investment trust’s stock worth $12,227,000 after purchasing an additional 478,930 shares in the last quarter. Finally, DigitalBridge Group Inc. purchased a new position in shares of Macerich in the second quarter valued at $1,764,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Company Profile

(Get Free Report

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.

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