Macerich (NYSE:MAC) was downgraded by Evercore ISI from an “in-line” rating to an “underperform” rating in a note issued to investors on Monday, Marketbeat Ratings reports. They presently have a $62.00 target price on the real estate investment trust’s stock. Evercore ISI’s price target would indicate a potential downside of 5.70% from the company’s current price.

Other equities research analysts have also issued research reports about the company. KeyCorp restated a “buy” rating and issued a $75.00 price objective on shares of Macerich in a research report on Thursday, September 28th. Royal Bank Of Canada restated a “buy” rating and issued a $66.00 price objective on shares of Macerich in a research report on Thursday, November 2nd. Boenning Scattergood set a $75.00 price objective on Macerich and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Mizuho restated a “hold” rating and issued a $60.00 price objective on shares of Macerich in a research report on Friday, November 10th. Finally, BMO Capital Markets set a $55.00 price objective on Macerich and gave the stock a “hold” rating in a research report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. Macerich presently has an average rating of “Hold” and an average target price of $66.50.

Macerich (NYSE MAC) traded up $1.28 during trading on Monday, reaching $65.75. The company’s stock had a trading volume of 1,228,800 shares, compared to its average volume of 1,471,192. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.25. Macerich has a 1-year low of $52.12 and a 1-year high of $73.34. The stock has a market cap of $9,255.82, a price-to-earnings ratio of 16.52, a PEG ratio of 3.08 and a beta of 0.88.

Macerich (NYSE:MAC) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.86). Macerich had a return on equity of 3.56% and a net margin of 14.92%. The company had revenue of $242.50 million during the quarter, compared to analysts’ expectations of $226.00 million. During the same quarter in the prior year, the company posted $1.04 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. sell-side analysts forecast that Macerich will post 3.95 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the company. AEW Capital Management L P lifted its position in shares of Macerich by 306.7% during 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 buying an additional 2,362,121 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Macerich by 5.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,899,041 shares of the real estate investment trust’s stock valued at $159,359,000 after purchasing an additional 143,975 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Macerich by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,047,155 shares of the real estate investment trust’s stock valued at $112,533,000 after purchasing an additional 49,918 shares in the last quarter. Third Point LLC purchased a new position in Macerich in the 3rd quarter valued at $94,878,000. Finally, Canada Pension Plan Investment Board lifted its holdings in Macerich by 39.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,252,483 shares of the real estate investment trust’s stock valued at $68,849,000 after purchasing an additional 353,900 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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About Macerich

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 (NYSE:MAC)

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