Macerich (NYSE:MAC) Given New $14.40 Price Target at The Goldman Sachs Group

Macerich (NYSE:MAC) had its price target trimmed by The Goldman Sachs Group from $16.70 to $14.40 in a research note released on Monday morning,Benzinga reports. The firm currently has a sell rating on the real estate investment trust’s stock.

Other analysts also recently issued reports about the company. Scotiabank decreased their price objective on Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a report on Thursday, March 6th. Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $14.00 to $22.00 in a report on Wednesday, December 4th. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and increased their price objective for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Morgan Stanley upgraded Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective for the company in a report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Macerich in a report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price objective for the company. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.03.

Macerich Stock Up 3.1 %

Shares of NYSE:MAC opened at $16.83 on Monday. The company has a fifty day moving average of $19.76 and a 200-day moving average of $19.06. The company has a market capitalization of $4.25 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. Macerich has a 52-week low of $12.99 and a 52-week high of $22.27.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 annualized dividend and a yield of 4.04%. Macerich’s dividend payout ratio (DPR) is -86.08%.

Insider Buying and Selling at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.59, for a total value of $1,303,120.51. Following the completion of the sale, the director now owns 83,479 shares in the company, valued at approximately $1,718,832.61. This trade represents a 43.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Macerich

Large investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC boosted its holdings in Macerich by 9.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,787 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 512 shares during the period. M&T Bank Corp lifted its holdings in shares of Macerich by 2.8% during the 4th quarter. M&T Bank Corp now owns 20,228 shares of the real estate investment trust’s stock worth $403,000 after acquiring an additional 543 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Macerich by 5.7% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 12,234 shares of the real estate investment trust’s stock worth $244,000 after acquiring an additional 665 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Macerich by 0.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust’s stock worth $5,029,000 after acquiring an additional 700 shares during the last quarter. Finally, Townsquare Capital LLC lifted its holdings in shares of Macerich by 7.2% during the 3rd quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock worth $245,000 after acquiring an additional 902 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

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.