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.
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.
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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.
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