A number of research firms have changed their ratings and price targets for Macerich (NYSE: MAC):

  • 2/9/2018 – Macerich had its price target lowered by analysts at Deutsche Bank AG from $65.00 to $62.00. They now have a “hold” rating on the stock.
  • 2/9/2018 – Macerich had its price target lowered by analysts at Citigroup Inc from $66.00 to $65.00. They now have a “neutral” rating on the stock.
  • 2/7/2018 – Macerich had its “buy” rating reaffirmed by analysts at Boenning Scattergood. They now have a $75.00 price target on the stock. They wrote, “We reiterate our Outperform rating and price target of $75 per share, a discount to our estimated NAV of approximately $84.””
  • 2/6/2018 – Macerich had its “hold” rating reaffirmed by analysts at Morgan Stanley.
  • 2/5/2018 – Macerich was given a new $62.00 price target on by analysts at BMO Capital Markets. They now have a “hold” rating on the stock.
  • 1/30/2018 – Macerich had its price target lowered by analysts at Barclays PLC from $62.00 to $60.00. They now have an “equal weight” rating on the stock.
  • 1/23/2018 – Macerich had its “hold” rating reaffirmed by analysts at Sandler O’Neill. They now have a $71.00 price target on the stock.
  • 1/15/2018 – Macerich was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Macerich have underperformed the industry in the past six months. Moreover, the stock has seen the Zacks Consensus Estimate for full-year 2017 and 2018 funds from operations (FFO) per share being revised downward in a month’s time. Notably, dwindling footfall amid shift of consumers toward online channels, store closures and bankruptcy of retailers are anticipated to adversely affect the company’s performance in the near term. While Macerich is striving to counter the pressure through efforts to support omni-channel retailing and portfolio revamp, the implementation of such measures requires a decent upfront cost and therefore, would limit any robust growth in its profit margins in the near term. Further, interest rate hikes and portfolio concentration remain concerns for the company.”
  • 1/3/2018 – Macerich was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating. They now have a $66.00 price target on the stock.
  • 12/19/2017 – Macerich was upgraded by analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating. They now have a $72.50 price target on the stock.

Shares of Macerich Co (MAC) opened at $60.41 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.88. Macerich Co has a 52 week low of $52.12 and a 52 week high of $69.73. The stock has a market capitalization of $8,504.09, a PE ratio of 59.23, a price-to-earnings-growth ratio of 2.88 and a beta of 0.83.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.11). Macerich had a return on equity of 3.91% and a net margin of 14.71%. The firm had revenue of $245.30 million for the quarter, compared to the consensus estimate of $237.90 million. During the same period last year, the firm earned $1.17 EPS. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. sell-side analysts forecast that Macerich Co will post 3.99 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Wednesday, February 21st will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 4.90%. The ex-dividend date is Tuesday, February 20th. Macerich’s dividend payout ratio (DPR) is currently 290.20%.

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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