Brokerages Set Macerich Company (The) (NYSE:MAC) Price Target at $19.95

Macerich Company (The) (NYSE:MAC) has been given an average recommendation of “Hold” by the thirteen research firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $19.95.

A number of equities analysts have commented on MAC shares. JPMorgan Chase & Co. boosted their target price on shares of Macerich from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday, August 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of Macerich in a research report on Wednesday, October 8th. Evercore ISI raised their target price on shares of Macerich from $18.00 to $20.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Scotiabank upped their price target on Macerich from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Finally, Bank of America upgraded Macerich from a “neutral” rating to a “buy” rating and increased their price objective for the company from $19.00 to $23.00 in a report on Friday, September 26th.

Institutional Trading of Macerich

Several large investors have recently bought and sold shares of the stock. Triumph Capital Management purchased a new position in shares of Macerich during the third quarter worth $33,000. Fifth Third Bancorp boosted its stake in shares of Macerich by 47.7% in the second quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 972 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Macerich in the third quarter valued at about $56,000. Quarry LP boosted its holdings in shares of Macerich by 2,691.6% during the 1st quarter. Quarry LP now owns 3,322 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 3,203 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Macerich by 14.8% during the third quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 691 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Stock Up 2.5%

Macerich stock opened at $18.53 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.97. The firm has a market cap of $4.75 billion, a P/E ratio of -11.65, a P/E/G ratio of 3.56 and a beta of 2.06. The business has a fifty day moving average of $17.34 and a two-hundred day moving average of $17.10. Macerich has a twelve month low of $12.48 and a twelve month high of $21.80.

Macerich (NYSE:MAC) last released its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $253.26 million during the quarter, compared to the consensus estimate of $246.77 million. Macerich had a negative return on equity of 14.21% and a negative net margin of 37.97%.The company’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 earnings per share. On average, analysts forecast that Macerich will post 1.55 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Monday, December 15th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, December 15th. Macerich’s dividend payout ratio (DPR) is currently -42.77%.

Macerich Company Profile

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.