The Macerich Company (NYSE:MAC) Given Consensus Rating of “Reduce” by Analysts

The Macerich Company (NYSE:MAC) has received an average rating of “Reduce” from the four analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $14.40.

Several equities analysts have issued reports on MAC shares. StockNews.com upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. The Goldman Sachs Group increased their price objective on shares of Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. Truist Financial reiterated a “hold” rating and set a $16.00 price objective on shares of Macerich in a research report on Monday, March 25th. Citigroup upgraded shares of Macerich from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd. Finally, Piper Sandler increased their price objective on shares of Macerich from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 20th.

Macerich Price Performance

MAC stock opened at $15.97 on Tuesday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.95 and a quick ratio of 0.95. Macerich has a 1 year low of $9.05 and a 1 year high of $17.69. The company has a 50 day simple moving average of $16.59 and a 200 day simple moving average of $14.27. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -12.57, a P/E/G ratio of 1.80 and a beta of 2.33.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.26). Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The business had revenue of $238.70 million during the quarter, compared to analyst estimates of $224.49 million. During the same quarter last year, the company posted $0.53 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. Research analysts anticipate that Macerich will post 1.81 EPS for the current fiscal year.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Friday, February 16th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.26%. The ex-dividend date was Thursday, February 15th. Macerich’s dividend payout ratio is presently -53.54%.

Insider Buying and Selling

In other Macerich news, Director Hern Thomas E. O sold 7,964 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total value of $130,529.96. Following the transaction, the director now directly owns 197,900 shares of the company’s stock, valued at $3,243,581. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Macerich news, President Edward C. Coppola sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total value of $860,000.00. Following the transaction, the president now directly owns 655,667 shares of the company’s stock, valued at $11,277,472.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hern Thomas E. O sold 7,964 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total transaction of $130,529.96. Following the completion of the transaction, the director now directly owns 197,900 shares in the company, valued at $3,243,581. The disclosure for this sale can be found here. Insiders have sold a total of 172,964 shares of company stock valued at $2,940,030 over the last ninety days. 0.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MAC. Y.D. More Investments Ltd raised its holdings in shares of Macerich by 0.9% in the fourth quarter. Y.D. More Investments Ltd now owns 81,330 shares of the real estate investment trust’s stock valued at $1,255,000 after purchasing an additional 745 shares during the last quarter. US Bancorp DE raised its holdings in shares of Macerich by 11.6% in the fourth quarter. US Bancorp DE now owns 8,911 shares of the real estate investment trust’s stock valued at $137,000 after purchasing an additional 928 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Macerich by 8.1% in the third quarter. Commonwealth Equity Services LLC now owns 13,068 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 980 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Macerich by 5.0% in the fourth quarter. Captrust Financial Advisors now owns 20,864 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 994 shares during the last quarter. Finally, Metis Global Partners LLC raised its holdings 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 purchasing an additional 1,040 shares during the last quarter. 87.38% of the stock is owned by institutional investors.

About Macerich

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.