Morgan Stanley Lowers Macerich (NYSE:MAC) Price Target to $19.00

Macerich (NYSE:MAC) had its price objective reduced by analysts at Morgan Stanley from $20.00 to $19.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price target points to a potential upside of 11.34% from the stock’s previous close.

MAC has been the subject of several other reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Macerich in a research report on Tuesday, December 17th. They set a “hold” rating and a $22.00 target price on the stock. Scotiabank cut their price objective on shares of Macerich from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 6th. Piper Sandler decreased their target price on Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Friday, February 28th. Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. reduced their price objective on Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a research note on Monday, March 10th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.37.

Macerich Trading Down 0.6 %

NYSE:MAC traded down $0.11 during mid-day trading on Tuesday, hitting $17.07. 627,702 shares of the company’s stock were exchanged, compared to its average volume of 1,897,037. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. Macerich has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. The firm has a market capitalization of $4.31 billion, a P/E ratio of 43.77, a PEG ratio of 0.71 and a beta of 2.62. The company has a 50 day simple moving average of $18.98 and a 200-day simple moving average of $19.21.

Hedge Funds Weigh In On Macerich

Several institutional investors and hedge funds have recently bought and sold shares of MAC. FMR LLC grew its stake in Macerich by 12,475.9% in the 3rd quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock valued at $214,738,000 after buying an additional 11,679,276 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Macerich by 845.9% in the fourth quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust’s stock valued at $200,222,000 after purchasing an additional 8,988,665 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Macerich by 13.2% during the 4th quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust’s stock valued at $769,260,000 after purchasing an additional 4,503,509 shares during the period. Bamco Inc. NY raised its stake in shares of Macerich by 175.8% during the 4th quarter. Bamco Inc. NY now owns 4,675,471 shares of the real estate investment trust’s stock valued at $93,135,000 after purchasing an additional 2,980,051 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in Macerich by 463.6% during the 4th quarter. Prudential Financial Inc. now owns 2,590,689 shares of the real estate investment trust’s stock worth $51,607,000 after purchasing an additional 2,131,030 shares in 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.