Shares of Macerich Co (NYSE:MAC) have received an average recommendation of “Hold” from the nineteen analysts that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $56.14.

Several analysts have commented on MAC shares. ValuEngine cut shares of Macerich from a “sell” rating to a “strong sell” rating in a research note on Friday, November 16th. BTIG Research lowered their target price on shares of Macerich to $63.00 and set a “buy” rating for the company in a research note on Monday, November 26th. Morgan Stanley cut shares of Macerich from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $58.00 to $45.00 in a research note on Monday, November 26th. Wells Fargo & Co lowered their target price on shares of Macerich from $72.50 to $65.50 and set an “outperform” rating for the company in a research note on Friday, December 7th. Finally, BMO Capital Markets set a $56.00 target price on shares of Macerich and gave the stock a “buy” rating in a research note on Thursday, December 13th.

MAC stock traded down $0.75 during midday trading on Friday, hitting $42.63. The stock had a trading volume of 1,658,692 shares, compared to its average volume of 1,299,327. The stock has a market capitalization of $6.02 billion, a P/E ratio of 11.07, a PEG ratio of 7.54 and a beta of 0.88. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.99 and a current ratio of 0.99. Macerich has a 12-month low of $40.90 and a 12-month high of $60.95.

Macerich (NYSE:MAC) last released its earnings results on Thursday, February 7th. The real estate investment trust reported $1.09 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.09. The firm had revenue of $246.90 million during the quarter, compared to analysts’ expectations of $228.64 million. Macerich had a net margin of 6.25% and a return on equity of 2.41%. Macerich’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 EPS. Research analysts forecast that Macerich will post 3.56 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 21st were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, February 20th. This represents a $3.00 annualized dividend and a dividend yield of 7.04%. Macerich’s dividend payout ratio is presently 77.92%.

In related news, Director Daniel J. Hirsch acquired 4,500 shares of the stock in a transaction dated Tuesday, December 18th. The stock was bought at an average cost of $44.63 per share, with a total value of $200,835.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Volk sold 5,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $42.19, for a total transaction of $210,950.00. Following the sale, the senior vice president now directly owns 12,399 shares of the company’s stock, valued at $523,113.81. The disclosure for this sale can be found here. 3.76% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Macerich by 1.6% during the 4th quarter. BlackRock Inc. now owns 11,780,366 shares of the real estate investment trust’s stock valued at $509,854,000 after acquiring an additional 187,685 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Macerich by 31.6% during the 3rd quarter. Morgan Stanley now owns 5,757,801 shares of the real estate investment trust’s stock valued at $318,350,000 after acquiring an additional 1,383,314 shares in the last quarter. FMR LLC lifted its holdings in shares of Macerich by 9.0% during the 4th quarter. FMR LLC now owns 3,680,537 shares of the real estate investment trust’s stock valued at $159,293,000 after acquiring an additional 302,366 shares in the last quarter. Cohen & Steers Inc. lifted its holdings in shares of Macerich by 1,008.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,907,664 shares of the real estate investment trust’s stock valued at $125,844,000 after acquiring an additional 2,645,377 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Macerich by 96.9% during the 3rd quarter. Hsbc Holdings PLC now owns 2,739,229 shares of the real estate investment trust’s stock valued at $151,452,000 after acquiring an additional 1,348,019 shares in the last quarter. 96.27% of the stock is owned by institutional investors.

About Macerich

Macerich, an S&P 500 company, is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.

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Analyst Recommendations for Macerich (NYSE:MAC)

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