Macerich Price Target Increased to $64.00 by Analysts at Barclays (MAC)
Stock analysts at Barclays boosted their target price on shares of Macerich (NYSE:MAC) from $61.00 to $64.00 in a report issued on Tuesday, American Banking and Market News reports. Barclays’ price objective would suggest a potential downside of 1.01% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Macerich in a research note on Thursday, March 27th. They now have a $64.00 price target on the stock. Separately, analysts at MLV & Co. initiated coverage on shares of Macerich in a research note on Tuesday, March 25th. They set a “buy” rating and a $73.00 price target on the stock. Finally, analysts at Sandler O’Neill upgraded shares of Macerich from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $65.18.
Macerich (NYSE:MAC) traded down 0.54% on Tuesday, hitting $64.895. The stock had a trading volume of 100,201 shares. Macerich has a 1-year low of $55.13 and a 1-year high of $72.19. The stock has a 50-day moving average of $61.82 and a 200-day moving average of $59.29. The company has a market cap of $9.121 billion and a price-to-earnings ratio of 21.71.
Macerich (NYSE:MAC) last released its earnings data on Wednesday, February 5th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.02. The company had revenue of $289.50 million for the quarter. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Analysts expect that Macerich will post $3.58 EPS for the current fiscal year.
In other Macerich news, CFO Hern Thomas O unloaded 5,000 shares of the company’s stock on the open market in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $63.56, for a total transaction of $317,800.00. Following the completion of the transaction, the chief financial officer now directly owns 81,267 shares in the company, valued at approximately $5,165,331. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
The Macerich Company is a fully integrated self-managed and self-administered real estate investment trust (NYSE:MAC).
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