Macerich (NYSE:MAC) was downgraded by equities research analysts at Mizuho from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, January 23rd, MarketBeat reports. They currently have a $48.00 target price on the real estate investment trust’s stock. Mizuho’s price target suggests a potential upside of 11.01% from the company’s current price.
A number of other equities research analysts have also recently commented on MAC. BMO Capital Markets restated a “buy” rating and set a $64.00 target price on shares of Macerich in a research note on Tuesday, September 25th. Barclays reiterated a “hold” rating and set a $54.00 price objective on shares of Macerich in a research report on Sunday, October 14th. Scotiabank assumed coverage on shares of Macerich in a research report on Tuesday, October 16th. They set a “sector perform” rating on the stock. Zacks Investment Research upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research report on Monday, October 22nd. Finally, ValuEngine cut shares of Macerich from a “sell” rating to a “strong sell” rating in a research report on Friday, November 16th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $58.93.
Shares of NYSE:MAC opened at $43.24 on Wednesday. Macerich has a twelve month low of $40.90 and a twelve month high of $61.91. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $6.04 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 2.35 and a beta of 0.92.
Macerich (NYSE:MAC) last issued its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $1.09 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.09. Macerich had a net margin of 6.25% and a return on equity of 2.41%. The firm had revenue of $246.90 million for the quarter, compared to analysts’ expectations of $228.64 million. During the same quarter in the prior year, the business earned $1.03 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. As a group, analysts expect that Macerich will post 3.73 EPS for the current fiscal year.
In other Macerich news, Director Daniel J. Hirsch purchased 4,500 shares of the business’s stock in a transaction on Tuesday, December 18th. The shares were purchased at an average cost of $44.63 per share, with a total value of $200,835.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Arthur M. Coppola sold 105,574 shares of the business’s stock in a transaction dated Tuesday, December 11th. The stock was sold at an average price of $49.79, for a total transaction of $5,256,529.46. The disclosure for this sale can be found here. 3.76% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Macerich by 1.6% in the 4th quarter. BlackRock Inc. now owns 11,780,366 shares of the real estate investment trust’s stock valued at $509,854,000 after purchasing an additional 187,685 shares during the period. Morgan Stanley raised its holdings in shares of Macerich by 31.6% in the 3rd quarter. Morgan Stanley now owns 5,757,801 shares of the real estate investment trust’s stock valued at $318,350,000 after purchasing an additional 1,383,314 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Macerich by 96.9% in the 3rd quarter. Hsbc Holdings PLC now owns 2,739,229 shares of the real estate investment trust’s stock valued at $151,452,000 after purchasing an additional 1,348,019 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Macerich by 9,289.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,893,198 shares of the real estate investment trust’s stock valued at $81,938,000 after purchasing an additional 1,873,034 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Macerich by 1.4% in the 4th quarter. Prudential Financial Inc. now owns 1,611,195 shares of the real estate investment trust’s stock valued at $69,733,000 after purchasing an additional 22,860 shares during the period. 97.20% of the stock is currently owned by institutional investors.
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 52 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
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