Macerich (NYSE:MAC) had its price target lowered by Citigroup from $66.00 to $65.00 in a research note released on Friday. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

Several other brokerages have also recently issued reports on MAC. Sandler O’Neill restated a hold rating and issued a $71.00 price objective on shares of Macerich in a research note on Tuesday, January 23rd. Royal Bank of Canada cut Macerich from an outperform rating to a sector perform rating and set a $66.00 price objective for the company. in a research note on Wednesday, January 3rd. Evercore ISI cut Macerich from an in-line rating to an underperform rating and set a $62.00 price objective for the company. in a research note on Monday, December 11th. Wells Fargo & Co upgraded Macerich from a market perform rating to an outperform rating and set a $72.50 price objective for the company in a research note on Tuesday, December 19th. Finally, Barclays reduced their price objective on Macerich from $62.00 to $60.00 and set an equal weight rating for the company in a research note on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $67.09.

Macerich (MAC) traded up $1.97 during trading on Friday, reaching $60.41. The company’s stock had a trading volume of 1,840,000 shares, compared to its average volume of 2,120,000. Macerich has a 52 week low of $52.12 and a 52 week high of $69.73. The stock has a market capitalization of $8,840.00, a PE ratio of 59.23, a PEG ratio of 2.77 and a beta of 0.83. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.88.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.11). Macerich had a return on equity of 3.91% and a net margin of 14.71%. The firm had revenue of $245.30 million during the quarter, compared to analysts’ expectations of $237.90 million. During the same quarter in the previous year, the business earned $1.17 earnings per share. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. equities research analysts predict that Macerich will post 4.01 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Wednesday, February 21st will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Tuesday, February 20th. Macerich’s dividend payout ratio is currently 290.20%.

A number of hedge funds have recently made changes to their positions in the stock. American International Group Inc. raised its position in Macerich by 15.2% during the fourth quarter. American International Group Inc. now owns 39,834 shares of the real estate investment trust’s stock valued at $2,616,000 after acquiring an additional 5,243 shares in the last quarter. Employees Retirement System of Texas raised its position in Macerich by 16.3% during the fourth quarter. Employees Retirement System of Texas now owns 114,100 shares of the real estate investment trust’s stock valued at $7,494,000 after acquiring an additional 16,000 shares in the last quarter. Valeo Financial Advisors LLC raised its position in Macerich by 12.5% during the fourth quarter. Valeo Financial Advisors LLC now owns 12,716 shares of the real estate investment trust’s stock valued at $835,000 after acquiring an additional 1,414 shares in the last quarter. Virtu Financial LLC purchased a new position in Macerich during the fourth quarter valued at approximately $254,000. Finally, Tower Research Capital LLC TRC raised its position in Macerich by 870.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 2,924 shares in the last quarter. Institutional investors own 98.21% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Macerich (MAC) Price Target Cut to $65.00 by Analysts at Citigroup” was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another website, it was illegally copied and reposted in violation of US & international copyright and trademark law. The original version of this article can be accessed at https://www.watchlistnews.com/macerich-mac-price-target-cut-to-65-00-by-analysts-at-citigroup/1857524.html.

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.

Analyst Recommendations for Macerich (NYSE:MAC)

Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with MarketBeat.com's FREE daily email newsletter.