The Macerich Company (NYSE:MAC – Get Free Report)’s stock price reached a new 52-week high during trading on Friday after The Goldman Sachs Group raised their price target on the stock from $13.00 to $14.60. The Goldman Sachs Group currently has a sell rating on the stock. Macerich traded as high as $17.73 and last traded at $17.67, with a volume of 3170213 shares changing hands. The stock had previously closed at $17.27.
A number of other brokerages have also issued reports on MAC. Piper Sandler lifted their target price on Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. Evercore ISI lifted their target price 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 report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.45.
Read Our Latest Research Report on Macerich
Institutional Trading of Macerich
Macerich Stock Performance
The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.76. The stock has a 50 day simple moving average of $15.63 and a 200 day simple moving average of $15.55. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -11.22, a P/E/G ratio of 0.53 and a beta of 2.49.
Macerich Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 19th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.68 annualized dividend and a dividend yield of 3.84%. Macerich’s dividend payout ratio is presently -43.59%.
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.
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