Macerich Co (MAC) Given Consensus Rating of “Hold” by Brokerages
Macerich Co (NYSE:MAC) has been assigned a consensus rating of “Hold” from the twenty brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $66.85.
MAC has been the subject of several recent analyst reports. Boenning Scattergood set a $75.00 target price on shares of Macerich and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Royal Bank of Canada restated a “buy” rating and issued a $66.00 target price on shares of Macerich in a research report on Thursday, November 2nd. Wells Fargo & Co upgraded shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 target price for the company in a research report on Tuesday, December 19th. Evercore ISI cut shares of Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 target price for the company. in a research report on Monday, December 11th. Finally, JPMorgan Chase & Co. upgraded shares of Macerich from a “neutral” rating to an “overweight” rating and set a $68.00 price objective for the company in a report on Tuesday, September 26th.
Macerich (MAC) traded up $0.81 during midday trading on Monday, reaching $64.81. 1,343,000 shares of the company’s stock traded hands, compared to its average volume of 2,240,500. Macerich has a 1 year low of $52.12 and a 1 year high of $73.34. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.25. The company has a market cap of $9,123.49, a PE ratio of 61.72, a price-to-earnings-growth ratio of 3.01 and a beta of 0.88.
Macerich (NYSE:MAC) last posted its 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 had a return on equity of 3.56% and a net margin of 14.92%. The firm had revenue of $242.50 million during the quarter, compared to the consensus estimate of $226.00 million. During the same quarter last year, the company posted $1.04 EPS. Macerich’s revenue for the quarter was down 4.3% on a year-over-year basis. equities research analysts anticipate that Macerich will post 3.94 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its holdings in Macerich by 11.1% during the third quarter. Parametric Portfolio Associates LLC now owns 256,391 shares of the real estate investment trust’s stock worth $14,094,000 after buying an additional 25,696 shares in the last quarter. Eii Capital Management Inc. boosted its holdings in Macerich by 206.0% during the third quarter. Eii Capital Management Inc. now owns 51,714 shares of the real estate investment trust’s stock worth $2,843,000 after buying an additional 34,814 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Macerich by 6.3% during the third quarter. California Public Employees Retirement System now owns 373,379 shares of the real estate investment trust’s stock worth $20,525,000 after buying an additional 21,975 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in Macerich during the third quarter worth approximately $621,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in Macerich by 60.8% during the third quarter. Cubist Systematic Strategies LLC now owns 10,577 shares of the real estate investment trust’s stock worth $581,000 after buying an additional 4,001 shares in the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.
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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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