Macerich (NYSE:MAC) has received a consensus rating of “Hold” from the nineteen analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $65.25.
MAC has been the subject of several recent research reports. Zacks Investment Research upgraded Macerich from a “sell” rating to a “hold” rating in a research report on Tuesday, March 20th. Deutsche Bank lowered their price objective on Macerich from $65.00 to $62.00 and set a “hold” rating for the company in a research report on Friday, February 9th. JPMorgan Chase downgraded Macerich from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $70.00 to $65.00 in a research report on Tuesday, March 27th. 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 research report on Wednesday, January 3rd. Finally, BMO Capital Markets set a $62.00 price objective on Macerich and gave the company a “hold” rating in a research report on Monday, February 5th.
Shares of MAC stock opened at $57.50 on Wednesday. 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. The company has a market capitalization of $8,106.04, a price-to-earnings ratio of 14.63, a P/E/G ratio of 2.17 and a beta of 0.87.
Macerich (NYSE:MAC) last announced its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.11). Macerich had a net margin of 14.71% and a return on equity of 3.91%. The company had revenue of $245.30 million during the quarter, compared to the consensus estimate of $237.90 million. During the same quarter in the previous year, the firm posted $1.17 EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. equities analysts predict that Macerich will post 3.95 EPS for the current year.
Institutional investors have recently made changes to their positions in the stock. Delpha Capital Management LLC bought a new position in shares of Macerich during the fourth quarter valued at approximately $156,000. Tower Research Capital LLC TRC raised its holdings in shares of 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. Miracle Mile Advisors LLC bought a new position in shares of Macerich during the fourth quarter valued at approximately $250,000. Virtu Financial LLC bought a new position in shares of Macerich during the fourth quarter valued at approximately $254,000. Finally, Cowen Prime Services LLC bought a new position in shares of Macerich during the fourth quarter valued at approximately $263,000. 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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