Analysts Set The Macerich Company (NYSE:MAC) PT at $19.30

Shares of The Macerich Company (NYSE:MAC) have received a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $19.30.

MAC has been the topic of a number of research reports. Morgan Stanley upgraded Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price target on the stock in a report on Wednesday, January 15th. Compass Point upped their target price on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and lifted their price target for the stock from $19.00 to $23.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Macerich in a research note on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price objective on the stock. Finally, Piper Sandler raised their target price on shares of Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a report on Wednesday, December 11th.

Insiders Place Their Bets

In other news, Director Andrea M. Stephen sold 63,289 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the completion of the sale, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. This represents a 43.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.53% of the stock is owned by corporate insiders.

Institutional Trading of Macerich

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. boosted its position in shares of Macerich by 152.2% in the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 933 shares during the period. Quantbot Technologies LP acquired a new position in Macerich during the 4th quarter worth approximately $30,000. GAMMA Investing LLC boosted its holdings in Macerich by 40.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 933 shares during the period. Smartleaf Asset Management LLC grew its position in Macerich by 314.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 2,630 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Macerich during the fourth quarter valued at approximately $99,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Trading Down 1.6 %

Shares of MAC opened at $20.49 on Monday. Macerich has a twelve month low of $12.99 and a twelve month high of $22.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $5.09 billion, a P/E ratio of 52.54, a PEG ratio of 0.72 and a beta of 2.50. The firm’s 50-day moving average is $20.46 and its two-hundred day moving average is $18.52.

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.