Piper Sandler Has Lowered Expectations for Macerich (NYSE:MAC) Stock Price

Macerich (NYSE:MAC) had its price objective cut by analysts at Piper Sandler from $17.00 to $16.00 in a research note 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 indicates a potential downside of 12.53% from the stock’s current price.

A number of other equities analysts have also commented on MAC. Morgan Stanley raised shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price target on the stock in a research report on Wednesday, January 15th. StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Compass Point upped their price target on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $14.00 to $22.00 in a research note on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Macerich in a research report on Tuesday, December 17th. They set a “hold” rating and a $22.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given 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 $19.22.

Macerich Price Performance

NYSE MAC opened at $18.29 on Friday. The stock has a market capitalization of $4.55 billion, a PE ratio of 46.90, a price-to-earnings-growth ratio of 0.71 and a beta of 2.50. Macerich has a 12-month low of $12.99 and a 12-month high of $22.27. The company has a 50 day moving average price of $20.21 and a two-hundred day moving average price of $18.86. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Insider Buying and Selling

In related news, Director Andrea M. Stephen sold 63,289 shares of the company’s 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 sale, the director now owns 83,479 shares of the company’s stock, valued at $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Macerich

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC raised its holdings in shares of 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 worth $118,000 after buying an additional 512 shares in the last quarter. M&T Bank Corp grew its position in Macerich by 2.8% in the fourth quarter. M&T Bank Corp now owns 20,228 shares of the real estate investment trust’s stock valued at $403,000 after acquiring an additional 543 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in Macerich by 5.7% during the fourth 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 in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Macerich by 0.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust’s stock valued at $5,029,000 after acquiring an additional 700 shares during the period. Finally, Lodestone Wealth Management LLC boosted its stake in shares of 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 purchasing an additional 859 shares in the last quarter. 87.38% of the stock is 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.