Macerich (NYSE:MAC) PT Raised to $14.60

Macerich (NYSE:MAC) had its price objective raised by analysts at The Goldman Sachs Group from $13.00 to $14.60 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “sell” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s price objective points to a potential downside of 14.12% from the company’s previous close.

MAC has been the topic of a number of other reports. Evercore ISI increased their price target on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. StockNews.com upgraded Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Piper Sandler increased their target price on Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.45.

Macerich Trading Up 1.4 %

Shares of Macerich stock traded up $0.24 on Thursday, hitting $17.00. The stock had a trading volume of 1,545,128 shares, compared to its average volume of 1,809,190. The stock has a 50 day moving average of $15.59 and a 200 day moving average of $15.54. Macerich has a twelve month low of $9.21 and a twelve month high of $17.69. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $3.67 billion, a P/E ratio of -10.90, a PEG ratio of 0.53 and a beta of 2.49.

Institutional Investors Weigh In On Macerich

Several large investors have recently made changes to their positions in MAC. DekaBank Deutsche Girozentrale increased its holdings in Macerich by 158.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 131,487 shares of the real estate investment trust’s stock worth $2,201,000 after acquiring an additional 80,541 shares during the last quarter. Murphy Pohlad Asset Management LLC increased its holdings in Macerich by 297.7% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust’s stock worth $1,707,000 after acquiring an additional 82,760 shares during the last quarter. Jessup Wealth Management Inc purchased a new stake in Macerich in the 1st quarter worth about $7,222,000. Vanguard Group Inc. increased its holdings in Macerich by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 34,478,278 shares of the real estate investment trust’s stock worth $532,000,000 after acquiring an additional 336,251 shares during the last quarter. Finally, UniSuper Management Pty Ltd increased its holdings in Macerich by 82.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 112,724 shares of the real estate investment trust’s stock worth $1,942,000 after acquiring an additional 50,989 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Company Profile

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.