Macerich (NYSE:MAC) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Macerich (NYSE:MAC – Get Rating) in a research report sent to investors on Thursday. The firm issued a sell rating on the real estate investment trust’s stock.

Several other brokerages have also recently weighed in on MAC. TheStreet upgraded shares of Macerich from a d+ rating to a c- rating in a research note on Thursday, November 17th. Deutsche Bank Aktiengesellschaft raised their target price on Macerich from $13.00 to $16.00 in a report on Monday, December 5th. Piper Sandler raised their target price on Macerich from $9.00 to $11.00 and gave the stock an underweight rating in a report on Wednesday, February 8th. Truist Financial raised their target price on Macerich from $13.00 to $15.00 in a report on Friday, December 16th. Finally, Mizuho raised their target price on Macerich from $10.00 to $11.00 in a report on Friday, December 2nd. Six investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $12.85.

Macerich Stock Down 3.3 %

MAC stock traded down $0.32 on Thursday, hitting $9.39. The company had a trading volume of 7,634,362 shares, compared to its average volume of 1,815,792. Macerich has a 12-month low of $7.40 and a 12-month high of $16.67. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.54. The stock’s 50-day simple moving average is $12.36 and its 200 day simple moving average is $11.30.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 3rd. Shareholders of record on Friday, February 17th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, February 16th. This represents a $0.68 dividend on an annualized basis and a yield of 7.24%. Macerich’s dividend payout ratio is presently -226.66%.

Institutional Investors Weigh In On Macerich

Several large investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in shares of Macerich by 14.4% in the fourth quarter. Victory Capital Management Inc. now owns 711,121 shares of the real estate investment trust’s stock worth $8,007,000 after purchasing an additional 89,389 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Macerich by 42.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,831 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 1,136 shares during the last quarter. Financial Advocates Investment Management bought a new stake in shares of Macerich in the fourth quarter worth about $187,000. CI Private Wealth LLC bought a new stake in shares of Macerich in the fourth quarter worth about $113,000. Finally, Captrust Financial Advisors increased its holdings in shares of Macerich by 5.0% in the fourth quarter. Captrust Financial Advisors now owns 20,864 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 994 shares during the last quarter. 80.81% of the stock is owned by institutional investors.

About Macerich

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Macerich Co operates as a real estate investment trust, which engages in the acquisition, ownership, development, redevelopment, management, and leasing of regional and community shopping centers located throughout the United States. The company was founded by Mace Siegel Dana K. Anderson, Arthur M. Coppola and Edward C.