SunTrust Banks restated their hold rating on shares of Macerich (NYSE:MAC) in a research report report published on Thursday. They currently have a $60.00 price target on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets set a $66.00 price target on Macerich and gave the stock a buy rating in a report on Wednesday, August 1st. Boenning Scattergood reissued a buy rating and issued a $75.00 price target on shares of Macerich in a report on Friday, April 20th. Mizuho raised Macerich from a neutral rating to a buy rating in a report on Friday, April 20th. Morgan Stanley cut their price target on Macerich from $62.00 to $58.00 and set an equal weight rating for the company in a report on Thursday, June 14th. Finally, Barclays boosted their price target on Macerich from $56.00 to $57.00 and gave the stock an equal weight rating in a report on Thursday, May 31st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $64.47.

MAC traded up $0.50 during trading on Thursday, reaching $57.71. 40,118 shares of the stock were exchanged, compared to its average volume of 1,402,635. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 2.26 and a beta of 0.86. Macerich has a 1 year low of $52.12 and a 1 year high of $69.73.

Macerich (NYSE:MAC) last posted its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.91). Macerich had a return on equity of 1.58% and a net margin of 2.52%. The firm had revenue of $234.50 million for the quarter, compared to analysts’ expectations of $216.37 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. analysts predict that Macerich will post 3.86 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Friday, August 17th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.96 annualized dividend and a yield of 5.13%. Macerich’s payout ratio is currently 75.32%.

A number of institutional investors have recently added to or reduced their stakes in MAC. Wells Fargo & Company MN increased its stake in Macerich by 119.1% in the first quarter. Wells Fargo & Company MN now owns 156,735 shares of the real estate investment trust’s stock valued at $8,780,000 after purchasing an additional 85,188 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Macerich by 15.6% in the first quarter. Daiwa Securities Group Inc. now owns 17,834 shares of the real estate investment trust’s stock valued at $999,000 after purchasing an additional 2,400 shares during the last quarter. Harvest Management LLC acquired a new position in Macerich in the first quarter valued at $224,000. Comerica Bank increased its stake in Macerich by 3.8% in the first quarter. Comerica Bank now owns 34,144 shares of the real estate investment trust’s stock valued at $1,965,000 after purchasing an additional 1,244 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Macerich by 1.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 425,398 shares of the real estate investment trust’s stock valued at $23,831,000 after purchasing an additional 4,540 shares during the last quarter. Hedge funds and other institutional investors own 95.39% of the company’s stock.

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 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.

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Analyst Recommendations for Macerich (NYSE:MAC)

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