Macerich (NYSE:MAC) Hits New 52-Week High – What’s Next?

The Macerich Company (NYSE:MAC) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $20.00 and last traded at $19.85, with a volume of 4930 shares trading hands. The stock had previously closed at $18.94.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Evercore ISI increased their price objective on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Piper Sandler increased their price target on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research note on Tuesday, September 3rd. Compass Point lifted their price objective on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group upped their target price on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a report on Thursday, September 19th. Finally, StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a report on Thursday. Five analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.40.

Macerich Stock Performance

The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of -58.50, a price-to-earnings-growth ratio of 0.62 and a beta of 2.50. The company has a 50 day simple moving average of $17.55 and a 200-day simple moving average of $16.02. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.76.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.52%. The ex-dividend date is Tuesday, November 12th. Macerich’s dividend payout ratio is presently -206.05%.

Institutional Investors Weigh In On Macerich

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Lodestone Wealth Management LLC increased its position in Macerich by 0.6% in the 3rd quarter. Lodestone Wealth Management LLC now owns 154,082 shares of the real estate investment trust’s stock valued at $2,810,000 after buying an additional 859 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Macerich by 40.9% during the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 933 shares in the last quarter. Blue Trust Inc. raised its position in shares of Macerich by 152.2% during the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 933 shares during the period. Assetmark Inc. lifted its holdings in shares of Macerich by 5.6% in the 3rd quarter. Assetmark Inc. now owns 18,404 shares of the real estate investment trust’s stock worth $336,000 after purchasing an additional 971 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in Macerich by 10.9% in 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. 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.