Macerich Company (The) (NYSE:MAC – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $25.7333.
MAC has been the subject of a number of analyst reports. Jefferies Financial Group upgraded shares of Macerich to a “strong-buy” rating in a research report on Friday, June 26th. The Goldman Sachs Group upped their target price on shares of Macerich from $17.00 to $19.00 and gave the stock a “sell” rating in a report on Friday, May 15th. LADENBURG THALM/SH SH increased their target price on shares of Macerich from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Weiss Ratings raised shares of Macerich from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday. Finally, Evercore set a $25.00 price target on shares of Macerich in a research report on Thursday, August 6th.
Institutional Trading of Macerich
Macerich Stock Performance
Shares of MAC opened at $24.70 on Friday. The stock’s 50-day simple moving average is $25.03 and its 200 day simple moving average is $22.04. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of -37.99, a price-to-earnings-growth ratio of 1.74 and a beta of 2.07. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.88 and a current ratio of 0.88. Macerich has a 52-week low of $16.03 and a 52-week high of $26.67.
Macerich (NYSE:MAC – Get Free Report) last issued its earnings results on Tuesday, August 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). Macerich had a negative return on equity of 6.26% and a negative net margin of 16.85%.The company had revenue of $249.71 million during the quarter, compared to the consensus estimate of $239.77 million. During the same quarter in the prior year, the business earned $0.33 EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. Research analysts forecast that Macerich will post 1.49 EPS for the current fiscal year.
Macerich Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, September 14th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, September 14th. Macerich’s payout ratio is presently -104.62%.
About Macerich
The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.
Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.
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