MAC has been the topic of several other research reports. Boenning Scattergood set a $75.00 price objective on shares of Macerich and gave the company a buy rating in a research report on Wednesday, November 1st. Royal Bank of Canada reissued a buy rating and set a $66.00 price target on shares of Macerich in a research report on Thursday, November 2nd. Deutsche Bank decreased their price target on shares of Macerich from $65.00 to $62.00 and set a hold rating for the company in a research report on Friday, February 9th. Wells Fargo & Co raised shares of Macerich from a market perform rating to an outperform rating and set a $72.50 price target for the company in a research report on Tuesday, December 19th. Finally, Evercore ISI downgraded shares of Macerich from an in-line rating to an underperform rating and set a $62.00 price target for the company. in a research report on Monday, December 11th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $66.32.
Shares of Macerich (NYSE MAC) traded up $0.71 during midday trading on Friday, reaching $59.60. 1,890,804 shares of the company were exchanged, compared to its average volume of 1,730,000. The firm has a market cap of $8,390.00, a PE ratio of 53.21, a price-to-earnings-growth ratio of 2.18 and a beta of 0.87. Macerich has a 12-month low of $52.12 and a 12-month high of $69.73. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.88 and a current ratio of 0.88.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Wednesday, February 21st were paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend was Tuesday, February 20th. Macerich’s dividend payout ratio is currently 264.29%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in Macerich by 3.7% in the fourth quarter. BlackRock Inc. now owns 11,422,384 shares of the real estate investment trust’s stock worth $750,223,000 after acquiring an additional 412,265 shares in the last quarter. Cbre Clarion Securities LLC raised its position in Macerich by 1,523.7% in the fourth quarter. Cbre Clarion Securities LLC now owns 3,205,186 shares of the real estate investment trust’s stock worth $210,517,000 after acquiring an additional 3,007,786 shares in the last quarter. Bank of New York Mellon Corp raised its position in Macerich by 5.2% in the third quarter. Bank of New York Mellon Corp now owns 2,899,041 shares of the real estate investment trust’s stock worth $159,359,000 after acquiring an additional 143,975 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Macerich by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,047,155 shares of the real estate investment trust’s stock worth $112,533,000 after acquiring an additional 49,918 shares in the last quarter. Finally, Third Point LLC purchased a new position in Macerich in the 3rd quarter worth about $94,878,000. Institutional investors and hedge funds own 97.14% of the company’s stock.
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Macerich Company Profile
The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.
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