Macerich (MAC) PT Lowered to $62.00

Macerich (NYSE:MAC) had its price objective dropped by investment analysts at Deutsche Bank from $65.00 to $62.00 in a note issued to investors on Friday. The firm presently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank’s target price would indicate a potential upside of 2.63% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. Wells Fargo & Co upgraded Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 target price for the company in a research report on Tuesday, December 19th. Evercore ISI downgraded Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 target price for the company. in a research report on Monday, December 11th. Boenning Scattergood set a $75.00 target price on Macerich and gave the company a “buy” rating in a research report on Wednesday, November 1st. Zacks Investment Research downgraded Macerich from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. Finally, Mizuho reiterated a “hold” rating and set a $60.00 target price on shares of Macerich in a research report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. Macerich has an average rating of “Hold” and an average target price of $67.09.

Macerich (NYSE:MAC) traded up $2.05 during trading hours on Friday, hitting $60.41. The stock had a trading volume of 1,841,950 shares, compared to its average volume of 2,214,577. The company has a market cap of $8,473.12, a P/E ratio of 59.23, a price-to-earnings-growth ratio of 2.86 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30. Macerich has a 1 year low of $52.12 and a 1 year high of $69.73.

Macerich (NYSE:MAC) last released its earnings results on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.11). The company had revenue of $245.30 million for the quarter, compared to the consensus estimate of $237.90 million. Macerich had a net margin of 14.71% and a return on equity of 3.91%. The business’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 earnings per share. analysts expect that Macerich will post 4.01 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in Macerich by 19.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,807 shares of the real estate investment trust’s stock worth $337,000 after purchasing an additional 934 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Macerich by 58.6% in the 2nd quarter. Janus Henderson Group PLC now owns 24,445 shares of the real estate investment trust’s stock worth $1,419,000 after purchasing an additional 9,030 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Macerich in the 2nd quarter worth about $382,000. The Manufacturers Life Insurance Company increased its holdings in Macerich by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 131,782 shares of the real estate investment trust’s stock worth $7,652,000 after purchasing an additional 2,560 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in Macerich in the 2nd quarter worth about $521,000. 98.21% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This news story was posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2018/02/09/macerich-mac-pt-lowered-to-62-00.html.

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)

Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply