Macerich (NYSE:MAC) had its target price reduced by analysts at BTIG Research to $66.00 in a research report issued on Wednesday, March 14th. The firm presently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price objective would suggest a potential upside of 15.08% from the company’s previous close.
Other equities research analysts have also recently issued reports about the company. Deutsche Bank cut their target price on Macerich from $65.00 to $62.00 and set a “hold” rating for the company in a research note on Friday, February 9th. Wells Fargo upgraded Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 price objective for the company in a report on Tuesday, December 19th. Evercore ISI downgraded Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 price objective for the company. in a report on Monday, December 11th. Zacks Investment Research downgraded Macerich from a “hold” rating to a “sell” rating in a report on Monday, January 15th. Finally, Royal Bank of Canada downgraded Macerich from an “outperform” rating to a “sector perform” rating and set a $66.00 price objective for the company. in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $64.83.
NYSE MAC traded down $1.05 during trading on Wednesday, reaching $57.35. 912,245 shares of the company’s stock were exchanged, compared to its average volume of 1,352,681. The company has a market cap of $8,225.76, a PE ratio of 14.59, a price-to-earnings-growth ratio of 2.20 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 fifty-two week low of $52.12 and a fifty-two week high of $69.73.
Macerich (NYSE:MAC) last posted its earnings results on Monday, February 5th. The real estate investment trust reported $1.03 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.11). The firm had revenue of $245.30 million during the quarter, compared to analyst estimates of $237.90 million. Macerich had a net margin of 14.71% and a return on equity of 3.91%. Macerich’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.17 EPS. research analysts anticipate that Macerich will post 3.96 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of MAC. APG Asset Management US Inc. bought a new position in Macerich in the 4th quarter valued at about $47,842,000. Valeo Financial Advisors LLC bought a new position in Macerich in the 3rd quarter valued at about $621,000. Land & Buildings Investment Management LLC bought a new position in Macerich in the 4th quarter valued at about $29,808,000. Bluestein R H & Co. bought a new position in Macerich in the 3rd quarter valued at about $632,000. Finally, TCW Group Inc. lifted its position in Macerich by 19.8% in the 3rd quarter. TCW Group Inc. now owns 286,032 shares of the real estate investment trust’s stock valued at $15,723,000 after acquiring an additional 47,216 shares in the last quarter. Institutional investors 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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