Macerich (NYSE:MAC) Price Target Raised to $14.60 at The Goldman Sachs Group

Macerich (NYSE:MAC) had its price target boosted by The Goldman Sachs Group from $13.00 to $14.60 in a report released on Thursday, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the real estate investment trust’s stock.

Several other brokerages have also recently issued reports on MAC. Piper Sandler raised their target price on shares of Macerich from $11.00 to $14.00 and gave the stock an underweight rating in a report on Tuesday, September 3rd. StockNews.com upgraded Macerich from a sell rating to a hold rating in a research note on Friday, August 2nd. Finally, Evercore ISI lifted their price objective on Macerich from $15.00 to $16.00 and gave the stock an in-line rating in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $15.45.

Macerich Price Performance

MAC opened at $17.65 on Thursday. The company’s 50-day simple moving average is $15.67 and its two-hundred day simple moving average is $15.55. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $3.81 billion, a P/E ratio of -11.31, a P/E/G ratio of 0.53 and a beta of 2.49. Macerich has a 52-week low of $9.21 and a 52-week high of $17.73.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 19th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date was Monday, August 19th. Macerich’s payout ratio is -43.59%.

Institutional Investors Weigh In On Macerich

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC raised its holdings in Macerich by 1.6% during the first quarter. SeaCrest Wealth Management LLC now owns 60,937 shares of the real estate investment trust’s stock valued at $1,050,000 after acquiring an additional 978 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Macerich by 10.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,500 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 1,132 shares during the period. Arizona State Retirement System lifted its holdings in Macerich by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 60,391 shares of the real estate investment trust’s stock worth $932,000 after purchasing an additional 1,181 shares in the last quarter. Swiss National Bank boosted its stake in Macerich by 0.3% in the 1st quarter. Swiss National Bank now owns 425,415 shares of the real estate investment trust’s stock worth $7,330,000 after purchasing an additional 1,200 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Macerich by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 23,313 shares of the real estate investment trust’s stock valued at $360,000 after buying an additional 1,275 shares in the last quarter. Institutional investors 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.