Macerich (NYSE:MAC)‘s stock had its “hold” rating reissued by stock analysts at Sandler O’Neill in a research note issued on Monday. They currently have a $63.00 price objective on the real estate investment trust’s stock. Sandler O’Neill’s price target would indicate a potential upside of 9.83% from the company’s current price.
MAC has been the topic of several other reports. Wells Fargo upgraded Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 price objective on the stock in a research report on Tuesday, December 19th. Mizuho set a $63.00 target price on Macerich and gave the stock a “hold” rating in a research report on Friday, February 16th. Citigroup decreased their target price on Macerich from $66.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. Boenning Scattergood reiterated a “buy” rating and issued a $75.00 target price on shares of Macerich in a research report on Wednesday, February 7th. Finally, Barclays decreased their target price on Macerich from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $65.83.
Macerich stock opened at $57.36 on Monday. Macerich has a 52-week low of $52.12 and a 52-week high of $69.73. The company has a market capitalization of $8,300.41, a PE ratio of 56.24, a PEG ratio of 2.21 and a beta of 0.87. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.88 and a quick 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 EPS 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 business 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 firm earned $1.17 earnings per share. Macerich’s revenue was down 6.2% on a year-over-year basis. sell-side analysts predict that Macerich will post 3.96 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the business. Delpha Capital Management LLC purchased a new stake in Macerich during the fourth quarter valued at approximately $156,000. 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 purchasing an additional 2,924 shares during the period. Miracle Mile Advisors LLC purchased a new stake in Macerich during the fourth quarter valued at approximately $250,000. Virtu Financial LLC purchased a new stake in Macerich during the fourth quarter valued at approximately $254,000. Finally, Cowen Prime Services LLC purchased a new stake in Macerich during the fourth quarter valued at approximately $263,000. Institutional investors and hedge funds own 97.14% of the company’s stock.
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.
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