Macerich (NYSE:MAC) Lowered to Sell Rating by Wall Street Zen

Macerich (NYSE:MAC) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other analysts also recently issued reports on MAC. Deutsche Bank Aktiengesellschaft raised Macerich from a “hold” rating to a “buy” rating and raised their target price for the stock from $20.00 to $27.00 in a research note on Tuesday. Evercore set a $22.00 target price on Macerich in a research note on Friday, May 8th. JPMorgan Chase & Co. raised their target price on Macerich from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 10th. Citigroup raised their target price on Macerich from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings raised Macerich from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Macerich currently has a consensus rating of “Hold” and a consensus price target of $22.54.

Macerich Trading Up 2.0%

Shares of MAC stock opened at $23.69 on Friday. Macerich has a fifty-two week low of $15.48 and a fifty-two week high of $23.75. The firm has a market capitalization of $6.19 billion, a P/E ratio of -33.37, a PEG ratio of 1.56 and a beta of 2.10. The stock’s fifty day moving average is $21.45 and its two-hundred day moving average is $19.56. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.83 and a current ratio of 0.83.

Macerich (NYSE:MAC) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Macerich had a negative return on equity of 6.95% and a negative net margin of 18.22%.The business had revenue of $241.54 million during the quarter, compared to the consensus estimate of $233.06 million. During the same period last year, the company earned $0.33 EPS. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. Research analysts expect that Macerich will post 1.48 earnings per share for the current fiscal year.

Institutional Trading of Macerich

A number of hedge funds and other institutional investors have recently modified their holdings of MAC. Farther Finance Advisors LLC increased its position in shares of Macerich by 76.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 585 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Macerich by 366.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 1,095 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Macerich by 80.4% during the 4th quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 684 shares during the last quarter. Triumph Capital Management acquired a new stake in shares of Macerich during the 3rd quarter worth about $33,000. Finally, Salomon & Ludwin LLC increased its position in shares of Macerich by 156.6% during the 4th quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,336 shares during the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Company Profile

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.