Macerich (NYSE:MAC – Get Free Report) was upgraded by equities research analysts at Jefferies Financial Group to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.
MAC has been the subject of several other reports. Mizuho lifted their target price on shares of Macerich from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Evercore set a $22.00 price target on shares of Macerich in a report on Friday, May 8th. Weiss Ratings upgraded shares of Macerich from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Citigroup raised shares of Macerich from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $24.00 to $28.00 in a report on Tuesday. Finally, Compass Point reiterated a “neutral” rating and issued a $26.00 target price (up from $23.00) on shares of Macerich in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Macerich presently has a consensus rating of “Moderate Buy” and an average target price of $25.00.
Check Out Our Latest Report on MAC
Macerich Stock Performance
Macerich (NYSE:MAC – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Macerich had a negative return on equity of 6.95% and a negative net margin of 18.22%.The company had revenue of $241.54 million during the quarter, compared to analyst estimates of $233.06 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Macerich’s revenue was down 3.1% on a year-over-year basis. As a group, equities analysts predict that Macerich will post 1.48 EPS for the current fiscal year.
Institutional Trading of Macerich
Several institutional investors have recently added to or reduced their stakes in MAC. Farther Finance Advisors LLC grew its stake in shares of Macerich by 76.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 585 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Macerich by 366.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 1,095 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Macerich by 80.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 684 shares during the last quarter. Triumph Capital Management purchased a new stake in Macerich during the 3rd quarter valued at about $33,000. Finally, Salomon & Ludwin LLC boosted its holdings in Macerich by 156.6% during the 4th quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 1,336 shares during the period. 87.38% of the stock is currently owned by hedge funds and other institutional investors.
Macerich Company Profile
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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