Boenning Scattergood reaffirmed their buy rating on shares of Macerich (NYSE:MAC) in a research note published on Friday. The firm currently has a $75.00 price target on the real estate investment trust’s stock.
A number of other equities analysts also recently commented on MAC. Royal Bank of Canada downgraded shares of Macerich from an outperform rating to a sector perform rating and set a $66.00 price objective for the company. in a research report on Wednesday, January 3rd. Zacks Investment Research downgraded shares of Macerich from a hold rating to a sell rating in a research report on Monday, January 15th. Sandler O’Neill restated a hold rating and set a $71.00 price objective on shares of Macerich in a research report on Tuesday, January 23rd. Barclays cut their price target on shares of Macerich from $62.00 to $60.00 and set an equal weight rating for the company in a report on Tuesday, January 30th. Finally, BMO Capital Markets set a $62.00 price target on shares of Macerich and gave the company a hold rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. Macerich presently has an average rating of Hold and an average target price of $65.10.
Shares of Macerich stock opened at $56.36 on Friday. The firm has a market cap of $8,099.00, a price-to-earnings ratio of 14.34, a PEG ratio of 2.17 and a beta of 0.87. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.30. Macerich has a one year low of $52.12 and a one year high of $69.73.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Macerich by 3.7% in the 4th quarter. BlackRock Inc. now owns 11,422,384 shares of the real estate investment trust’s stock valued at $750,223,000 after purchasing an additional 412,265 shares in the last quarter. Cbre Clarion Securities LLC increased its holdings in Macerich by 1,523.7% during the 4th quarter. Cbre Clarion Securities LLC now owns 3,205,186 shares of the real estate investment trust’s stock valued at $210,517,000 after acquiring an additional 3,007,786 shares in the last quarter. Geode Capital Management LLC increased its holdings in Macerich by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 1,428,879 shares of the real estate investment trust’s stock valued at $93,684,000 after acquiring an additional 50,374 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Macerich by 4.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,215,149 shares of the real estate investment trust’s stock valued at $79,811,000 after acquiring an additional 56,011 shares in the last quarter. Finally, APG Asset Management US Inc. purchased a new position in Macerich during the 4th quarter valued at about $47,842,000. Institutional investors and hedge funds own 97.14% of the company’s stock.
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Macerich Company Profile
Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
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