Macerich (NYSE:MAC) Stock Price Expected to Rise, LADENBURG THALM/SH SH Analyst Says

Macerich (NYSE:MAC) had its target price boosted by investment analysts at LADENBURG THALM/SH SH from $27.00 to $30.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. LADENBURG THALM/SH SH’s price objective suggests a potential upside of 26.82% from the stock’s previous close.

Several other analysts have also weighed in on MAC. Citigroup lifted their price objective on Macerich from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. KeyCorp lifted their price objective on Macerich from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Weiss Ratings raised Macerich from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Wall Street Zen lowered Macerich from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Macerich from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Tuesday, March 10th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.08.

Macerich Stock Performance

MAC traded down $1.44 during midday trading on Tuesday, reaching $23.66. The company’s stock had a trading volume of 6,922,277 shares, compared to its average volume of 2,493,670. Macerich has a twelve month low of $15.48 and a twelve month high of $25.72. The stock has a market cap of $6.18 billion, a P/E ratio of -33.32, a PEG ratio of 1.71 and a beta of 2.10. The company has a fifty day simple moving average of $22.13 and a 200 day simple moving average of $19.92. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.96.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $241.54 million for the quarter, compared to analyst estimates of $233.06 million. During the same quarter last year, the firm earned $0.33 EPS. Macerich’s revenue for the quarter was down 3.1% compared to the same quarter last year. Research analysts expect that Macerich will post 1.48 earnings per share for the current year.

Hedge Funds Weigh In On Macerich

Institutional investors have recently bought and sold shares of the business. Centersquare Investment Management LLC raised its position in shares of Macerich by 8.9% during the third quarter. Centersquare Investment Management LLC now owns 2,546,325 shares of the real estate investment trust’s stock worth $46,343,000 after acquiring an additional 207,395 shares during the last quarter. DigitalBridge Group Inc. bought a new stake in shares of Macerich during the third quarter worth $9,146,000. Triad Investment Management bought a new stake in shares of Macerich during the fourth quarter worth $3,820,000. American Century Companies Inc. raised its position in shares of Macerich by 16.1% during the third quarter. American Century Companies Inc. now owns 1,317,513 shares of the real estate investment trust’s stock worth $23,979,000 after acquiring an additional 182,291 shares during the last quarter. Finally, APG Asset Management US Inc. raised its position in shares of Macerich by 29.7% during the third quarter. APG Asset Management US Inc. now owns 1,351,135 shares of the real estate investment trust’s stock worth $24,320,000 after acquiring an additional 309,544 shares during the last quarter. Institutional investors own 87.38% of the company’s stock.

About Macerich

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.