Other analysts have also recently issued reports about the stock. Mizuho set a $51.00 target price on shares of Macerich and gave the stock a “buy” rating in a report on Sunday, December 16th. BMO Capital Markets set a $56.00 target price on shares of Macerich and gave the stock a “buy” rating in a report on Thursday, December 13th. BTIG Research dropped their target price on shares of Macerich to $63.00 and set a “buy” rating on the stock in a report on Monday, November 26th. Barclays reissued a “hold” rating and set a $54.00 target price on shares of Macerich in a report on Sunday, October 14th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $52.00 price objective on shares of Macerich in a report on Monday, December 17th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $60.83.
NYSE MAC opened at $42.83 on Friday. Macerich has a 12 month low of $40.90 and a 12 month high of $61.91. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $6.33 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 2.41 and a beta of 0.92.
Macerich (NYSE:MAC) last issued its earnings results on Thursday, February 7th. The real estate investment trust reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.80. The company had revenue of $246.90 million for the quarter, compared to analysts’ expectations of $228.64 million. Macerich had a net margin of 8.35% and a return on equity of 3.29%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 earnings per share. On average, research analysts expect that Macerich will post 3.86 EPS for the current fiscal year.
In other news, Director Daniel J. Hirsch bought 4,500 shares of the firm’s stock in a transaction on Tuesday, December 18th. The stock was bought at an average cost of $44.63 per share, for a total transaction of $200,835.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arthur M. Coppola sold 105,574 shares of the firm’s stock in a transaction dated Tuesday, December 11th. The stock was sold at an average price of $49.79, for a total transaction of $5,256,529.46. The disclosure for this sale can be found here. Company insiders own 3.76% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its holdings in shares of Macerich by 31.6% in the third quarter. Morgan Stanley now owns 5,757,801 shares of the real estate investment trust’s stock worth $318,350,000 after buying an additional 1,383,314 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Macerich by 96.9% in the third quarter. Hsbc Holdings PLC now owns 2,739,229 shares of the real estate investment trust’s stock worth $151,452,000 after buying an additional 1,348,019 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Macerich by 9,289.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,893,198 shares of the real estate investment trust’s stock worth $81,938,000 after buying an additional 1,873,034 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Macerich by 1.4% in the fourth quarter. Prudential Financial Inc. now owns 1,611,195 shares of the real estate investment trust’s stock worth $69,733,000 after buying an additional 22,860 shares during the period. Finally, Third Avenue Management LLC boosted its holdings in shares of Macerich by 0.3% in the third quarter. Third Avenue Management LLC now owns 1,585,516 shares of the real estate investment trust’s stock worth $87,664,000 after buying an additional 4,742 shares during the period. Institutional investors own 97.20% of the company’s stock.
Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 52 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
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