Macerich Co (NYSE:MAC) Receives Average Rating of “Hold” from Brokerages

Shares of Macerich Co (NYSE:MAC) have been given an average recommendation of “Hold” by the fifteen analysts that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $39.19.

MAC has been the topic of a number of research reports. ValuEngine upgraded Macerich from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. BMO Capital Markets cut Macerich from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $40.00 to $33.00 in a research report on Thursday, September 26th. Barclays set a $33.00 price target on Macerich and gave the company a “hold” rating in a research note on Tuesday, September 10th. SunTrust Banks decreased their price target on Macerich from $43.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, August 23rd. Finally, Citigroup decreased their price target on Macerich from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th.

MAC opened at $29.23 on Wednesday. The stock has a market cap of $3.87 billion, a PE ratio of 7.59, a P/E/G ratio of 4.15 and a beta of 0.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.87. Macerich has a 1 year low of $27.11 and a 1 year high of $53.61. The stock’s 50 day simple moving average is $30.21 and its 200-day simple moving average is $34.45.

Macerich (NYSE:MAC) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. The business had revenue of $227.97 million for the quarter, compared to analysts’ expectations of $213.18 million. Macerich had a return on equity of 3.49% and a net margin of 11.59%. Macerich’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.96 earnings per share. Equities analysts forecast that Macerich will post 3.55 earnings per share for the current fiscal year.

In related news, CEO Hern Thomas E. O purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average price of $28.02 per share, with a total value of $140,100.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, President Edward C. Coppola purchased 18,223 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $30.78 per share, for a total transaction of $560,903.94. Following the purchase, the president now owns 284,095 shares in the company, valued at $8,744,444.10. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 39,424 shares of company stock worth $1,192,094. 1.73% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. AXA boosted its stake in Macerich by 8.9% in the second quarter. AXA now owns 17,105 shares of the real estate investment trust’s stock worth $573,000 after purchasing an additional 1,397 shares in the last quarter. Northern Trust Corp boosted its stake in Macerich by 0.3% in the second quarter. Northern Trust Corp now owns 1,961,960 shares of the real estate investment trust’s stock worth $65,706,000 after purchasing an additional 5,292 shares in the last quarter. Davis Selected Advisers boosted its stake in Macerich by 1.3% in the second quarter. Davis Selected Advisers now owns 66,530 shares of the real estate investment trust’s stock worth $2,228,000 after purchasing an additional 850 shares in the last quarter. Balyasny Asset Management LLC boosted its stake in Macerich by 5.8% in the second quarter. Balyasny Asset Management LLC now owns 762,142 shares of the real estate investment trust’s stock worth $25,524,000 after purchasing an additional 42,041 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Macerich by 108.1% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 29,069 shares of the real estate investment trust’s stock worth $974,000 after purchasing an additional 15,100 shares in the last quarter.

Macerich Company Profile

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 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.

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Analyst Recommendations for Macerich (NYSE:MAC)

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