Macerich (NYSE:MAC) had its price target lowered by equities researchers at BTIG Research to $66.00 in a report released on Wednesday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price objective points to a potential upside of 11.56% from the company’s current price.
A number of other analysts also recently weighed in on the stock. Wells Fargo & Co raised shares of 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 cut Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 target price on the stock. in a research note on Monday, December 11th. Zacks Investment Research cut Macerich from a “hold” rating to a “sell” rating in a research note on Monday, January 15th. Sandler O’Neill reiterated a “hold” rating and set a $71.00 target price on shares of Macerich in a research note on Tuesday, January 23rd. Finally, Royal Bank of Canada cut Macerich from an “outperform” rating to a “sector perform” rating and set a $66.00 target price on the stock. in a research note on Wednesday, January 3rd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $66.32.
Macerich (MAC) traded up $0.27 during mid-day trading on Wednesday, hitting $59.16. 577,889 shares of the stock were exchanged, compared to its average volume of 1,811,281. The company has a market capitalization of $8,183.51, a PE ratio of 57.97, a P/E/G ratio of 2.18 and a beta of 0.87. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.88 and a quick ratio of 0.88. Macerich has a 52-week low of $52.12 and a 52-week high of $69.73.
A number of institutional investors and hedge funds have recently made changes to their positions in MAC. Delpha Capital Management LLC acquired a new stake in shares of Macerich in the fourth quarter valued at $156,000. Tower Research Capital LLC TRC raised its position in shares of Macerich by 870.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 2,924 shares during the last quarter. Amica Pension Fund Board of Trustees acquired a new position in shares of Macerich during the 3rd quarter worth approximately $229,000. Miracle Mile Advisors LLC acquired a new position in shares of Macerich during the 4th quarter worth approximately $250,000. Finally, Virtu Financial LLC acquired a new position in shares of Macerich during the 4th quarter worth approximately $254,000. 97.14% of the stock is owned by institutional investors.
Macerich 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.
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