Macerich Company (The) (NYSE:MAC)‘s stock had its “hold” rating reiterated by equities research analysts at Boenning Scattergood in a research note issued to investors on Friday.

Other research analysts also recently issued research reports about the company. BidaskClub raised Macerich Company (The) from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research downgraded shares of Macerich Company (The) from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Jefferies Group LLC reissued a “hold” rating and issued a $57.00 target price on shares of Macerich Company (The) in a research note on Monday, July 17th. Barclays PLC cut their target price on shares of Macerich Company (The) from $66.00 to $63.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 19th. Finally, Mizuho downgraded shares of Macerich Company (The) from a “buy” rating to a “neutral” rating and cut their target price for the company from $84.00 to $63.00 in a research note on Tuesday, May 30th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $70.46.

Shares of Macerich Company (NYSE MAC) traded up 4.25% during midday trading on Friday, hitting $59.34. 1,768,018 shares of the company were exchanged. The company has a 50-day moving average price of $58.27 and a 200-day moving average price of $62.59. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 52.05 and a beta of 0.77. Macerich Company has a 52-week low of $56.06 and a 52-week high of $88.02.

Macerich Company (The) (NYSE:MAC) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. The business had revenue of $247.20 million during the quarter, compared to the consensus estimate of $218.62 million. Macerich Company (The) had a return on equity of 3.38% and a net margin of 14.39%. The business’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.02 EPS. On average, analysts forecast that Macerich Company will post $1.03 EPS for the current year.

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In other Macerich Company (The) news, CEO Arthur M. Coppola sold 100,000 shares of Macerich Company (The) stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $58.13, for a total value of $5,813,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.75% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Glen Harbor Capital Management LLC boosted its stake in Macerich Company (The) by 20.8% in the first quarter. Glen Harbor Capital Management LLC now owns 10,642 shares of the real estate investment trust’s stock valued at $686,000 after buying an additional 1,836 shares during the period. ProShare Advisors LLC boosted its stake in Macerich Company (The) by 160.7% in the first quarter. ProShare Advisors LLC now owns 109,994 shares of the real estate investment trust’s stock valued at $2,747,000 after buying an additional 67,804 shares during the period. Retirement Systems of Alabama boosted its stake in Macerich Company (The) by 2.1% in the first quarter. Retirement Systems of Alabama now owns 58,433 shares of the real estate investment trust’s stock valued at $3,763,000 after buying an additional 1,212 shares during the period. State of Alaska Department of Revenue boosted its stake in Macerich Company (The) by 48.4% in the first quarter. State of Alaska Department of Revenue now owns 52,492 shares of the real estate investment trust’s stock valued at $3,379,000 after buying an additional 17,116 shares during the period. Finally, DnB Asset Management AS boosted its stake in Macerich Company (The) by 9.4% in the first quarter. DnB Asset Management AS now owns 11,695 shares of the real estate investment trust’s stock valued at $753,000 after buying an additional 1,000 shares during the period. Institutional investors own 95.08% of the company’s stock.

Macerich Company (The) Company Profile

The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.

Analyst Recommendations for Macerich Company (The) (NYSE:MAC)

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