Research Analysts’ Weekly Ratings Changes for Macerich (MAC)

A number of research firms have changed their ratings and price targets for Macerich (NYSE: MAC):

• 5/1/2024 – Macerich was downgraded by analysts at Piper Sandler from a “neutral” rating to an “underweight” rating. They now have a $11.00 price target on the stock, down previously from $17.00.
• 5/1/2024 – Macerich had its price target lowered by analysts at Mizuho from $17.00 to $14.00. They now have an “underperform” rating on the stock.
• 5/1/2024 – Macerich had its price target lowered by analysts at Compass Point from $20.00 to $18.00. They now have a “buy” rating on the stock.
• 4/30/2024 – Macerich was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 4/18/2024 – Macerich was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 3/25/2024 – Macerich had its “hold” rating reaffirmed by analysts at Truist Financial Co.. They now have a $16.00 price target on the stock.
• 3/22/2024 – Macerich was upgraded by analysts at Citigroup Inc. from a “sell” rating to a “neutral” rating. They now have a $17.00 price target on the stock, up previously from $8.00.
• 3/12/2024 – Macerich was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

Macerich Stock Performance

Macerich stock opened at $13.46 on Thursday. The Macerich Company has a fifty-two week low of $9.05 and a fifty-two week high of $17.69. The company has a market capitalization of $2.90 billion, a PE ratio of -8.63, a P/E/G ratio of 1.55 and a beta of 2.38. The company has a 50 day moving average price of $16.24 and a 200-day moving average price of $14.63. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.95 and a current ratio of 1.03.

Macerich (NYSE:MAC) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.26). The firm had revenue of $238.70 million during the quarter, compared to analysts’ expectations of $224.49 million. Macerich had a negative return on equity of 13.42% and a negative net margin of 38.96%. Macerich’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. As a group, equities analysts forecast that The Macerich Company will post 1.8 earnings per share for the current year.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $0.17 dividend. The ex-dividend date is Friday, May 17th. This represents a $0.68 annualized dividend and a dividend yield of 5.05%. Macerich’s dividend payout ratio is currently -43.59%.

Insider Transactions at Macerich

In related news, President Edward C. Coppola sold 50,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the president now owns 655,667 shares of the company’s stock, valued at $11,277,472.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, President Edward C. Coppola sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total transaction of $860,000.00. Following the sale, the president now owns 655,667 shares of the company’s stock, valued at $11,277,472.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Hern Thomas E. O sold 7,964 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was 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 owns 197,900 shares of the company’s stock, valued at $3,243,581. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,964 shares of company stock valued at $2,940,030. Company insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Macerich

Several institutional investors have recently bought and sold shares of MAC. Signaturefd LLC lifted its holdings in shares of Macerich by 152.4% during the 4th quarter. Signaturefd LLC now owns 2,166 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,308 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Macerich in the third quarter valued at about $36,000. Anchor Investment Management LLC purchased a new stake in Macerich in the fourth quarter valued at about $40,000. Quest Partners LLC acquired a new stake in Macerich in the fourth quarter worth about $41,000. Finally, CWM LLC grew its stake in shares of Macerich by 51.0% during the third quarter. CWM LLC now owns 5,409 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,826 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

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.