Macerich PT Raised to $76.00 (MAC)
Analysts at Cowen and Company raised their target price on shares of Macerich (NYSE:MAC) from $74.00 to $76.00 in a research report issued to clients and investors on Thursday. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price target would suggest a potential upside of 14.68% from the company’s current price.
Shares of Macerich (NYSE:MAC) traded down 0.75% on Thursday, hitting $65.77. The stock had a trading volume of 122,782 shares. 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 $66.56 and a 200-day moving average of $63.75. The company has a market cap of $9.255 billion and a P/E ratio of 43.09.
Macerich (NYSE:MAC) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.86 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.87 earnings per share. Macerich’s revenue was down 3.3% compared to the same quarter last year. On average, analysts predict that Macerich will post $3.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 5th. Shareholders of record on Wednesday, August 20th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Monday, August 18th.
A number of other analysts have also recently weighed in on MAC. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Macerich in a research note on Wednesday, August 6th. They now have a $72.00 price target on the stock, down previously from $73.00. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Macerich in a research note on Tuesday, August 5th. They now have a $70.00 price target on the stock, down previously from $73.00. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $69.90.
The Macerich Company is a fully integrated self-managed and self-administered real estate investment trust.
Receive News & Ratings for Macerich Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich Co and related companies with Analyst Ratings Network's FREE daily email newsletter.