Macerich Company (The) (NYSE:MAC) had its price objective reduced by investment analysts at Citigroup Inc. from $66.00 to $61.00 in a report issued on Monday. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup Inc.’s price target indicates a potential upside of 6.20% from the company’s previous close.

A number of other analysts also recently commented on MAC. BidaskClub raised Macerich Company (The) from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised Macerich Company (The) from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Boenning Scattergood reissued a “hold” rating on shares of Macerich Company (The) in a research note on Friday, August 4th. Barclays PLC dropped their price objective on Macerich Company (The) to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $57.00 price objective on shares of Macerich Company (The) in a research note on Monday, July 17th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $69.79.

Macerich Company (MAC) traded up 1.27% during mid-day trading on Monday, reaching $57.44. The company’s stock had a trading volume of 1,435,913 shares. The firm has a 50 day moving average price of $58.34 and a 200-day moving average price of $61.88. Macerich Company has a 1-year low of $54.98 and a 1-year high of $84.60. The company has a market capitalization of $8.12 billion, a PE ratio of 56.48 and a beta of 0.77.

Macerich Company (The) (NYSE:MAC) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. The firm had revenue of $247.20 million for 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 firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.02 EPS. On average, equities analysts predict that Macerich Company will post $1.04 EPS for the current fiscal year.

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In related news, CEO Arthur M. Coppola sold 100,000 shares of Macerich Company (The) stock in a transaction on Friday, June 30th. The stock was sold at an average price of $58.13, for a total value of $5,813,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.75% of the company’s stock.

Several institutional investors have recently modified their holdings of MAC. Advantus Capital Management Inc increased its position in shares of Macerich Company (The) by 0.4% in the first quarter. Advantus Capital Management Inc now owns 12,020 shares of the real estate investment trust’s stock worth $774,000 after buying an additional 47 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Macerich Company (The) by 3.1% in the first quarter. Pacer Advisors Inc. now owns 2,571 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 77 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Macerich Company (The) by 0.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 18,917 shares of the real estate investment trust’s stock worth $1,098,000 after buying an additional 177 shares in the last quarter. Mason Street Advisors LLC increased its position in shares of Macerich Company (The) by 1.2% in the first quarter. Mason Street Advisors LLC now owns 16,705 shares of the real estate investment trust’s stock worth $1,076,000 after buying an additional 190 shares in the last quarter. Finally, State Treasurer State of Michigan increased its position in shares of Macerich Company (The) by 0.5% in the first quarter. State Treasurer State of Michigan now owns 39,708 shares of the real estate investment trust’s stock worth $2,557,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 95.90% 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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