Piper Sandler Lowers Macerich (NYSE:MAC) Price Target to $16.00

Macerich (NYSE:MAC) had its price target decreased by Piper Sandler from $17.00 to $16.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the real estate investment trust’s stock. Piper Sandler’s target price points to a potential downside of 12.53% from the company’s previous close.

MAC has been the topic of several other research reports. Compass Point upped their price target on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft initiated 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. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and raised their price target for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Morgan Stanley raised Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock in a report on Wednesday, January 15th. Finally, Scotiabank raised Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 target price for the company in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.22.

Macerich Trading Down 9.1 %

MAC stock opened at $18.29 on Friday. The business has a fifty day moving average price of $20.21 and a 200 day moving average price of $18.86. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. Macerich has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 46.90, a P/E/G ratio of 0.71 and a beta of 2.50.

Insider Activity at Macerich

In related news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the transaction, the director now owns 83,479 shares of the company’s stock, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Macerich

Hedge funds have recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new position in shares of Macerich in the 4th quarter valued at $90,000. Public Employees Retirement System of Ohio lifted its holdings in Macerich by 12.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 352,623 shares of the real estate investment trust’s stock worth $7,024,000 after acquiring an additional 38,623 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Macerich by 4.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,619,222 shares of the real estate investment trust’s stock valued at $32,255,000 after acquiring an additional 72,849 shares during the period. Woodline Partners LP bought a new stake in shares of Macerich in the fourth quarter worth about $16,778,000. Finally, State of Wyoming bought a new position in shares of Macerich during the 4th quarter valued at about $55,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

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.