Macerich (NYSE:MAC) Price Target Increased to $14.00 by Analysts at Piper Sandler

Macerich (NYSE:MAC) had its price objective increased by Piper Sandler from $11.00 to $14.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has an underweight rating on the real estate investment trust’s stock.

MAC has been the subject of a number of other research reports. StockNews.com upgraded shares of Macerich from a sell rating to a hold rating in a report on Friday, August 2nd. Evercore ISI increased their target price on shares of Macerich from $15.00 to $16.00 and gave the company an in-line rating in a report on Wednesday, August 28th. Scotiabank lowered Macerich from a sector perform rating to a sector underperform rating and decreased their price target for the stock from $16.00 to $14.00 in a research note on Friday, May 17th. Finally, The Goldman Sachs Group dropped their price objective on Macerich from $14.00 to $12.50 and set a sell rating for the company in a research note on Monday, June 17th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $15.19.

Macerich Stock Down 5.0 %

Macerich stock opened at $15.17 on Tuesday. The stock’s 50 day moving average price is $15.36 and its 200 day moving average price is $15.60. The company has a market cap of $3.28 billion, a PE ratio of -9.72, a price-to-earnings-growth ratio of 0.53 and a beta of 2.51. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.86 and a quick ratio of 0.86. Macerich has a 1-year low of $9.21 and a 1-year high of $17.69.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 19th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.68 annualized dividend and a dividend yield of 4.48%. Macerich’s dividend payout ratio is currently -43.59%.

Institutional Trading of Macerich

Institutional investors and hedge funds have recently made changes to their positions in the stock. SeaCrest Wealth Management LLC lifted its holdings in Macerich by 1.6% in the 1st quarter. SeaCrest Wealth Management LLC now owns 60,937 shares of the real estate investment trust’s stock valued at $1,050,000 after purchasing an additional 978 shares in the last quarter. Metis Global Partners LLC raised its position in shares of Macerich by 8.2% in the fourth quarter. Metis Global Partners LLC now owns 13,666 shares of the real estate investment trust’s stock valued at $211,000 after buying an additional 1,040 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Macerich by 10.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,500 shares of the real estate investment trust’s stock valued at $178,000 after buying an additional 1,132 shares during the period. Arizona State Retirement System boosted its position in Macerich by 2.0% during the second quarter. Arizona State Retirement System now owns 60,391 shares of the real estate investment trust’s stock worth $932,000 after acquiring an additional 1,181 shares during the last quarter. Finally, Swiss National Bank grew its stake in Macerich by 0.3% in the 1st quarter. Swiss National Bank now owns 425,415 shares of the real estate investment trust’s stock worth $7,330,000 after acquiring an additional 1,200 shares during the period. 87.38% of the stock is currently 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.