Shares of Macerich Co (NYSE:MAC) have received a consensus rating of “Hold” from the twenty analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $66.85.
Several research firms recently weighed in on MAC. Wells Fargo & Co raised Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 price objective on the stock in a research note on Tuesday, December 19th. BMO Capital Markets set a $55.00 price objective on Macerich and gave the company a “hold” rating in a research note on Monday, October 30th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Macerich in a research note on Thursday, November 2nd. JPMorgan Chase & Co. raised Macerich from a “neutral” rating to an “overweight” rating and set a $68.00 price objective on the stock in a research note on Tuesday, September 26th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Macerich in a research note on Thursday, September 28th.
Macerich (NYSE MAC) traded up $0.07 on Monday, hitting $63.10. The stock had a trading volume of 1,194,011 shares, compared to its average volume of 1,833,664. The firm has a market cap of $8,920.00, a price-to-earnings ratio of 60.10, a P/E/G ratio of 3.01 and a beta of 0.87. Macerich has a 12 month low of $52.12 and a 12 month high of $70.96. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.25.
A number of institutional investors have recently bought and sold shares of MAC. Third Point LLC bought a new position in Macerich in the third quarter valued at about $94,878,000. Balyasny Asset Management LLC bought a new position in Macerich in the second quarter valued at about $22,446,000. Canada Pension Plan Investment Board raised its position in Macerich by 39.4% in the third quarter. Canada Pension Plan Investment Board now owns 1,252,483 shares of the real estate investment trust’s stock valued at $68,849,000 after purchasing an additional 353,900 shares during the last quarter. Third Avenue Management LLC raised its position in Macerich by 69.3% in the third quarter. Third Avenue Management LLC now owns 847,701 shares of the real estate investment trust’s stock valued at $46,599,000 after purchasing an additional 346,900 shares during the last quarter. Finally, Koch Industries Inc. bought a new position in Macerich in the second quarter valued at about $289,000. Hedge funds and other institutional investors own 97.58% of the company’s stock.
Macerich 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.
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