Macerich Company (The) (NYSE:MAC) Stock Rated “Moderate Buy” by Sell-Side Analysts

Macerich Company (The) (NYSE:MAC) has received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $26.19.

Several brokerages have commented on MAC. Griffin Securities set a $26.00 target price on shares of Macerich in a research report on Tuesday, August 18th. The Goldman Sachs Group reissued a “sell” rating and set a $21.00 target price on shares of Macerich in a report on Tuesday, September 1st. BNP Paribas Exane initiated coverage on Macerich in a report on Friday, October 9th. They issued an “outperform” rating and a $28.00 target price for the company. Mizuho set a $28.00 price target on shares of Macerich in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. raised Macerich from a “neutral” rating to an “overweight” rating and set a $26.00 price objective on the stock in a research report on Thursday, September 24th.

Insider Buying and Selling

In other news, CAO Christopher Zecchini sold 2,740 shares of Macerich stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $23.28, for a total transaction of $63,787.20. Following the transaction, the chief accounting officer directly owned 847 shares of the company’s stock, valued at $19,718.16. The trade was a 76.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Macerich

Several hedge funds have recently modified their holdings of MAC. BlackRock Inc. acquired a new position in shares of Macerich in the 2nd quarter valued at $1,378,836,000. Deutsche Bank AG acquired a new position in Macerich in the second quarter valued at $138,928,000. Bamco Inc. NY acquired a new stake in shares of Macerich during the second quarter worth $125,944,000. Resolution Capital Ltd grew its position in Macerich by 204.0% during the first quarter. Resolution Capital Ltd now owns 4,384,180 shares of the real estate investment trust’s stock worth $82,861,000 after buying an additional 2,941,909 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Macerich by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,848,113 shares of the real estate investment trust’s stock valued at $72,727,000 after acquiring an additional 65,331 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Stock Performance

MAC stock opened at $24.30 on Wednesday. The company has a 50-day simple moving average of $23.14 and a 200 day simple moving average of $22.20. The company has a market capitalization of $6.89 billion, a P/E ratio of -37.38, a PEG ratio of 1.75 and a beta of 2.11. Macerich has a fifty-two week low of $16.03 and a fifty-two week high of $26.67. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.67.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The firm had revenue of $249.71 million for the quarter, compared to analyst estimates of $239.77 million. Macerich had a negative net margin of 16.85% and a negative return on equity of 6.26%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Sell-side analysts predict that Macerich will post 1.49 earnings per share for the current fiscal year.

Macerich Company Profile

Macerich (NYSE: MAC) is a self-managed and self-administered real estate investment trust that owns, operates and develops retail and mixed-use properties in the United States. The company’s portfolio primarily consists of regional shopping centers and high-quality malls located in major markets, with a concentration in the Western and Sun Belt regions.

Macerich generates revenue primarily through leasing retail, dining, entertainment and other commercial space to tenants. Its activities also include property management, marketing, redevelopment and the development of mixed-use projects designed to combine retail with residential, office, hotel and other uses.

The company traces its roots to the 1960s and has expanded through the acquisition, development and redevelopment of retail real estate.