Macerich Company (The) (MAC) Receives Average Rating of “Hold” from Brokerages

Macerich Company (The) (NYSE:MAC) has received a consensus recommendation of “Hold” from the eighteen analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $66.80.

Several equities research analysts have recently commented on the stock. BidaskClub cut shares of Macerich Company (The) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Boenning Scattergood upgraded shares of Macerich Company (The) from a “neutral” rating to an “outperform” rating in a report on Wednesday, August 23rd. Zacks Investment Research upgraded shares of Macerich Company (The) from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Mizuho restated a “hold” rating and set a $60.00 price objective on shares of Macerich Company (The) in a report on Friday, November 10th. Finally, Citigroup Inc. decreased their price objective on shares of Macerich Company (The) from $66.00 to $61.00 and set a “neutral” rating for the company in a report on Monday, August 14th.

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Shares of Macerich Company (NYSE:MAC) traded down $0.45 during trading hours on Friday, hitting $64.21. 2,187,175 shares of the stock traded hands, compared to its average volume of 3,087,562. Macerich Company has a 12 month low of $52.12 and a 12 month high of $73.34. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $9,039.03, a PE ratio of 16.13, a price-to-earnings-growth ratio of 2.97 and a beta of 0.80.

Macerich Company (The) (NYSE:MAC) last issued its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.86). Macerich Company (The) had a return on equity of 3.56% and a net margin of 14.92%. The business had revenue of $242.50 million for the quarter, compared to analyst estimates of $226.00 million. During the same quarter in the prior year, the firm earned $1.04 EPS. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. sell-side analysts anticipate that Macerich Company will post 3.95 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend is Thursday, November 9th. This is a boost from Macerich Company (The)’s previous quarterly dividend of $0.71. Macerich Company (The)’s dividend payout ratio is 281.91%.

Several institutional investors have recently added to or reduced their stakes in the company. Eii Capital Management Inc. boosted its holdings in shares of Macerich Company (The) by 206.0% in the third quarter. Eii Capital Management Inc. now owns 51,714 shares of the real estate investment trust’s stock valued at $2,843,000 after buying an additional 34,814 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Macerich Company (The) by 6.3% in the third quarter. California Public Employees Retirement System now owns 373,379 shares of the real estate investment trust’s stock valued at $20,525,000 after buying an additional 21,975 shares during the period. Valeo Financial Advisors LLC acquired a new position in shares of Macerich Company (The) in the third quarter valued at approximately $621,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Macerich Company (The) by 60.8% in the third quarter. Cubist Systematic Strategies LLC now owns 10,577 shares of the real estate investment trust’s stock valued at $581,000 after buying an additional 4,001 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of Macerich Company (The) by 58.5% in the third quarter. Janus Henderson Group PLC now owns 38,750 shares of the real estate investment trust’s stock valued at $2,130,000 after buying an additional 14,305 shares during the period. Institutional investors own 97.59% of the company’s stock.

Macerich Company (The) Company Profile

The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.

Analyst Recommendations for Macerich Company (The) (NYSE:MAC)

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