Scotiabank Reiterates Buy Rating on The Macerich Company
Scotiabank maintains its buy rating for The Macerich Company, setting a $27 price target.
Key Points
- Scotiabank reiterated its buy rating for The Macerich Company (NYSE:MAC) with a price target of $27 on June 18, 2026.
- Shares of Macerich traded at $23, with a market cap of approximately $6.52 billion and a forward P/E ratio of 766.67.
- Recent insider buying and analyst ratings reflect continued interest, with multiple firms maintaining or upgrading their ratings.
On June 18, 2026, Scotiabank reiterated its buy rating for The Macerich Company (NYSE:MAC), setting a price target of $27. The stock currently trades at around $23 on the New York Stock Exchange.
What Changed in Scotiabank's The Macerich Company Position
Scotiabank's analyst Greg McGinniss reaffirmed the buy rating for The Macerich Company, setting a future price target of $27. This maintains the previous outlook without any change in the target from prior analysis.
Other Institutional Activity in The Macerich Company
Among other investors, BlackRock, Inc. increased its holdings by 778,374 shares, bringing its total to over 46.26 million shares valued at approximately $874.3 million. FMR LLC also grew its stake by 4,296,410 shares, totaling 24.05 million shares worth about $454.5 million. Conversely, Smead Capital Management, Inc. reduced its position by 1,808,473 shares, holding 12.15 million shares valued at around $229.7 million.
The Macerich Company Stock Snapshot
Shares of The Macerich Company (NYSE:MAC) are trading near $23. The company has a market cap of roughly $6.52 billion, with a forward P/E ratio of 766.67 and a beta of 2.086. Over the past year, the stock has ranged from a low of $15.48 to a high of $25.72. The 50-day moving average is $22.31, and the 200-day moving average is $19.26. The company's current ratio is 0.3, with a quick ratio of 0.233 and a debt-to-equity ratio of 198.97.
Recent Earnings
The Macerich Company reported revenue of approximately $1.02 billion, though it faced a revenue decline of 6.7%. The company posted a negative net margin of -17.9% and a return on equity of -7.1%. The next earnings report is anticipated on August 10, 2026.
Dividend
The Macerich Company offers an annual dividend rate of $0.68 per share, yielding 2.86% based on current prices. The dividend payout ratio is notably high at 188.89%.
Insider Buying and Selling at The Macerich Company
On June 1, 2026, several insiders, including Steve Hash and Devin Ignatius Murphy, each purchased shares of The Macerich Company. These transactions were not part of any pre-planned trading program.
Analysts Set New Price Targets
On June 18, 2026, Morgan Stanley maintained its hold rating with a $25 price target, while JP Morgan upgraded the stock to hold with a $25 target on June 17. Ladenburg Thalmann reaffirmed its buy rating on June 16, setting a target of $30. The consensus among analysts remains a buy, with a mean price target of $23.81 based on 16 opinions.
About The Macerich Company
The Macerich Company is a real estate investment trust (REIT) focused on owning, operating, and developing retail properties. Headquartered in Santa Monica, California, it manages a portfolio concentrated in key U.S. markets like California and the Pacific Northwest. Under the leadership of CEO Mr. Jackson Hsieh, the company has about 596 employees and owns interests in 39 retail centers totaling approximately 41 million square feet.
Bottom Line
Scotiabank's reiterated buy rating for The Macerich Company highlights continued confidence in the stock, despite current market challenges. Investors follow these ratings to gauge institutional sentiment, though 13F filings and analyst reports are backward-looking and may not reflect current positions or future performance.
See Also
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