Macerich Company (The) (NYSE:MAC)‘s stock had its “buy” rating restated by investment analysts at Royal Bank Of Canada in a research note issued on Thursday. They currently have a $66.00 price objective on the real estate investment trust’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 20.88% from the company’s previous close.

A number of other research firms have also commented on MAC. KeyCorp restated a “buy” rating and issued a $75.00 price target on shares of Macerich Company (The) in a research report on Monday, August 28th. Zacks Investment Research lowered shares of Macerich Company (The) from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Jefferies Group LLC restated a “hold” rating and issued a $57.00 price target on shares of Macerich Company (The) in a research report on Tuesday, September 26th. Citigroup Inc. reduced their price target on shares of Macerich Company (The) from $66.00 to $61.00 and set a “neutral” rating on the stock in a research report on Monday, August 14th. Finally, BidaskClub lowered shares of Macerich Company (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $67.00.

Macerich Company (The) (NYSE:MAC) last released its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.86). The firm had revenue of $242.50 million during the quarter, compared to analyst estimates of $226.00 million. Macerich Company (The) had a net margin of 14.92% and a return on equity of 3.56%. Macerich Company (The)’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 earnings per share.

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Several institutional investors and hedge funds have recently bought and sold shares of MAC. BlackRock Inc. boosted its stake in shares of Macerich Company (The) by 2,249.6% in the 1st quarter. BlackRock Inc. now owns 12,358,247 shares of the real estate investment trust’s stock valued at $795,870,000 after purchasing an additional 11,832,272 shares in the last quarter. Norges Bank acquired a new stake in shares of Macerich Company (The) in the 4th quarter valued at approximately $463,635,000. Morgan Stanley boosted its stake in shares of Macerich Company (The) by 104.8% in the 1st quarter. Morgan Stanley now owns 5,649,199 shares of the real estate investment trust’s stock valued at $363,809,000 after purchasing an additional 2,890,935 shares in the last quarter. AEW Capital Management L P boosted its stake in shares of Macerich Company (The) by 306.7% in the 2nd quarter. AEW Capital Management L P now owns 3,132,200 shares of the real estate investment trust’s stock valued at $35,531,000 after purchasing an additional 2,362,121 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Macerich Company (The) by 79.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,405,634 shares of the real estate investment trust’s stock valued at $190,623,000 after purchasing an additional 1,062,848 shares in the last quarter. Institutional investors own 94.68% of the company’s stock.

About Macerich Company (The)

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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