Royal Bank Of Canada reiterated their buy rating on shares of Macerich Company (The) (NYSE:MAC) in a report published on Thursday. Royal Bank Of Canada currently has a $66.00 target price on the real estate investment trust’s stock.

MAC has been the topic of a number of other reports. KeyCorp reaffirmed a buy rating and issued a $75.00 price target on shares of Macerich Company (The) in a research note on Monday, August 28th. Barclays PLC decreased their target price on shares of Macerich Company (The) to $61.00 and set an equal weight rating on the stock in a research note on Tuesday, July 18th. Boenning Scattergood set a $75.00 target price on shares of Macerich Company (The) and gave the stock a buy rating in a research note on Wednesday, November 1st. J P Morgan Chase & Co raised shares of Macerich Company (The) from a neutral rating to an overweight rating and set a $68.00 target price on the stock in a research note on Tuesday, September 26th. Finally, Jefferies Group LLC reissued a hold rating and issued a $57.00 target price on shares of Macerich Company (The) in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $67.00.

Shares of Macerich Company (MAC) traded down $0.04 during trading on Thursday, reaching $54.35. 1,018,446 shares of the company were exchanged, compared to its average volume of 1,675,159. The stock has a market cap of $7,656.64, a price-to-earnings ratio of 13.67, a PEG ratio of 2.57 and a beta of 0.80. Macerich Company has a 1 year low of $52.12 and a 1 year high of $73.34. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.85 and a quick ratio of 0.88.

Macerich Company (The) (NYSE:MAC) last issued its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.86). The company had revenue of $242.50 million during the quarter, compared to analysts’ expectations of $226.00 million. Macerich Company (The) had a net margin of 14.92% and a return on equity of 3.56%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.04 earnings per share. equities analysts anticipate that Macerich Company will post 3.96 EPS for the current fiscal year.

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The company 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 dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.45%. This is an increase from Macerich Company (The)’s previous quarterly dividend of $0.71. Macerich Company (The)’s dividend payout ratio (DPR) is currently 270.48%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sentry Investment Management LLC increased its holdings in shares of Macerich Company (The) by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 9,690 shares of the real estate investment trust’s stock worth $563,000 after buying an additional 102 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Macerich Company (The) by 0.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,917 shares of the real estate investment trust’s stock worth $1,098,000 after buying an additional 177 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Macerich Company (The) by 7.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,774 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 203 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in Macerich Company (The) by 11.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,111 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 435 shares during the last quarter. Finally, Ffcm LLC increased its holdings in Macerich Company (The) by 6.4% in the 2nd quarter. Ffcm LLC now owns 8,490 shares of the real estate investment trust’s stock valued at $493,000 after purchasing an additional 510 shares during the last quarter. Institutional investors and hedge funds own 91.33% of the company’s stock.

About Macerich Company (The)

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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