Jefferies Group Reiterates Hold Rating for Macerich (MAC)
Macerich (NYSE:MAC)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Group in a research report issued on Tuesday. They currently have a $70.00 price objective on the stock, down from their previous price objective of $73.00. Jefferies Group’s price target would suggest a potential upside of 7.84% from the stock’s previous close.
Shares of Macerich (NYSE:MAC) traded down 0.52% on Tuesday, hitting $64.57. 94,774 shares of the company’s stock traded hands. Macerich has a one year low of $55.13 and a one year high of $68.81. The stock has a 50-day moving average of $66.86 and a 200-day moving average of $63.49. The company has a market cap of $9.086 billion and a price-to-earnings ratio of 42.20.
Macerich (NYSE:MAC) last released its earnings data on Wednesday, July 23rd. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.84 by $0.02. The company had revenue of $254.33 million for the quarter, compared to the consensus estimate of $149.60 million. During the same quarter in the prior year, the company posted $0.87 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis. On average, analysts predict that Macerich will post $3.57 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 5th. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Monday, August 18th.
A number of other analysts have also recently weighed in on MAC. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Macerich in a research note on Tuesday, July 29th. They now have a $70.00 price target on the stock, up previously from $68.00. Separately, analysts at BMO Capital Markets raised their price target on shares of Macerich from $66.00 to $71.00 in a research note on Monday, July 28th. Finally, analysts at Credit Suisse reiterated an “underperform” rating on shares of Macerich in a research note on Friday, July 25th. They now have a $69.00 price target on the stock, up previously from $62.00. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $69.10.
The Macerich Company is a fully integrated self-managed and self-administered real estate investment trust.
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