Macerich (NYSE:MAC) Earns Hold Rating from Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich (NYSE:MAC) in a report issued on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a hold rating and a $22.00 price target on the real estate investment trust’s stock.

A number of other research firms have also weighed in on MAC. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $14.00 to $22.00 in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research report on Thursday, September 19th. StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Compass Point boosted their price objective on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Piper Sandler boosted their price objective on shares of Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.86.

Macerich Stock Down 1.4 %

Shares of NYSE MAC opened at $21.35 on Tuesday. Macerich has a 12-month low of $12.99 and a 12-month high of $22.27. The company has a market capitalization of $5.31 billion, a PE ratio of 54.77, a price-to-earnings-growth ratio of 0.74 and a beta of 2.51. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The firm’s 50-day moving average is $19.61 and its two-hundred day moving average is $17.05.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.90). The business had revenue of $220.20 million during the quarter, compared to analysts’ expectations of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. Equities analysts anticipate that Macerich will post 1.56 EPS for the current fiscal year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Tuesday, November 12th. Macerich’s dividend payout ratio (DPR) is 174.36%.

Hedge Funds Weigh In On Macerich

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in Macerich by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust’s stock worth $99,004,000 after purchasing an additional 34,982 shares during the last quarter. Vestcor Inc grew its stake in Macerich by 91.4% during the third quarter. Vestcor Inc now owns 193,777 shares of the real estate investment trust’s stock worth $3,534,000 after buying an additional 92,551 shares during the period. Public Employees Retirement System of Ohio grew its stake in Macerich by 0.7% during the third quarter. Public Employees Retirement System of Ohio now owns 314,000 shares of the real estate investment trust’s stock worth $5,727,000 after buying an additional 2,322 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Macerich by 0.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust’s stock worth $5,029,000 after buying an additional 700 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Macerich during the third quarter worth approximately $1,131,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

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.