Macerich (NYSE:MAC) has been given a $63.00 price objective by investment analysts at Mizuho in a note issued to investors on Friday. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Mizuho’s price objective points to a potential upside of 3.86% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on the stock. Deutsche Bank lowered their target price on shares of Macerich from $65.00 to $62.00 and set a “hold” rating for the company in a report on Friday, February 9th. Citigroup lowered their target price on shares of Macerich from $66.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Boenning Scattergood restated a “buy” rating and issued a $75.00 target price on shares of Macerich in a report on Wednesday, February 7th. Morgan Stanley restated a “hold” rating on shares of Macerich in a report on Tuesday, February 6th. Finally, BMO Capital Markets set a $62.00 target price on shares of Macerich and gave the company a “hold” rating in a report on Monday, February 5th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $67.26.
Macerich (NYSE MAC) opened at $60.66 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.88 and a quick ratio of 0.85. The firm has a market cap of $8,580.00, a P/E ratio of 59.47, a PEG ratio of 2.93 and a beta of 0.83. Macerich has a 52-week low of $52.12 and a 52-week high of $69.73.
Macerich (NYSE:MAC) last released its earnings results on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.11). Macerich had a net margin of 14.71% and a return on equity of 3.91%. The company had revenue of $245.30 million during the quarter, compared to analysts’ expectations of $237.90 million. During the same quarter in the previous year, the firm posted $1.17 earnings per share. Macerich’s revenue for the quarter was down 6.2% compared to the same quarter last year. analysts forecast that Macerich will post 3.97 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in Macerich by 39.1% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,900 shares of the real estate investment trust’s stock worth $585,000 after buying an additional 2,500 shares during the period. MetLife Investment Advisors LLC purchased a new stake in Macerich during the fourth quarter worth approximately $2,203,000. Land & Buildings Investment Management LLC purchased a new stake in Macerich during the fourth quarter worth approximately $29,808,000. Element Capital Management LLC purchased a new stake in Macerich during the fourth quarter worth approximately $21,396,000. Finally, Zeke Capital Advisors LLC purchased a new stake in Macerich during the fourth quarter worth approximately $287,000. Institutional investors own 98.27% of the company’s stock.
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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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