The Macerich Co. (NYSE:MAC) has earned a consensus rating of “Hold” from the fifteen ratings firms that are covering the firm. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $87.25.
A number of equities analysts recently weighed in on the company. Credit Suisse Group AG reissued a “sell” rating and issued a $78.00 price target on shares of The Macerich in a research note on Tuesday, August 2nd. Deutsche Bank AG lifted their price target on The Macerich from $83.00 to $84.00 and gave the stock a “hold” rating in a research note on Monday, July 18th. Zacks Investment Research cut The Macerich from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. JPMorgan Chase & Co. lifted their price target on The Macerich from $83.00 to $87.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Finally, Jefferies Group lifted their price target on The Macerich from $86.00 to $88.00 and gave the stock a “hold” rating in a research note on Wednesday, August 31st.
The Macerich (NYSE:MAC) opened at 82.82 on Wednesday. The company has a 50-day moving average of $82.48 and a 200 day moving average of $81.12. The Macerich has a 12-month low of $71.82 and a 12-month high of $94.51. The stock has a market cap of $11.90 billion, a price-to-earnings ratio of 13.91 and a beta of 0.98.
The Macerich (NYSE:MAC) last issued its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.04. The firm had revenue of $259.90 million for the quarter, compared to analysts’ expectations of $252.32 million. The Macerich had a return on equity of 17.91% and a net margin of 78.65%. The Macerich’s revenue was down 19.5% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. Equities analysts anticipate that The Macerich will post $4.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Friday, August 19th were issued a $0.68 dividend. The ex-dividend date was Wednesday, August 17th. This represents a $2.72 annualized dividend and a yield of 3.28%. The Macerich’s dividend payout ratio (DPR) is currently 45.87%.
In related news, EVP Randy L. Brant sold 24,250 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $83.10, for a total value of $2,015,175.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert D. Perlmutter sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $85.49, for a total value of $128,235.00. The disclosure for this sale can be found here. 3.54% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of MAC. Checchi Capital Advisers LLC raised its stake in The Macerich by 4.3% in the second quarter. Checchi Capital Advisers LLC now owns 1,973 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 82 shares during the period. Advisors Asset Management Inc. increased its position in shares of The Macerich by 46.7% in the second quarter. Advisors Asset Management Inc. now owns 2,129 shares of the real estate investment trust’s stock valued at $182,000 after buying an additional 678 shares in the last quarter. MU Investments Co. Ltd. acquired a new position in shares of The Macerich during the second quarter valued at approximately $185,000. Ameritas Investment Partners Inc. acquired a new position in shares of The Macerich during the second quarter valued at approximately $203,000. Finally, Eii Capital Management Inc. increased its position in shares of The Macerich by 140.0% in the second quarter. Eii Capital Management Inc. now owns 2,400 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 94.66% of the company’s stock.
About The Macerich
The Macerich Company is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. It owns 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers.
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