Morgan Stanley cut shares of Macerich (NYSE:MAC) from an equal weight rating to an underweight rating in a research note issued to investors on Monday morning, Benzinga reports. Morgan Stanley currently has $6.50 target price on the real estate investment trust’s stock, down from their prior target price of $8.00.

Several other research firms also recently commented on MAC. JPMorgan Chase & Co. cut their target price on shares of Macerich from $30.00 to $11.00 and set a neutral rating on the stock in a research report on Thursday, June 18th. Royal Bank of Canada cut their target price on shares of Macerich from $34.00 to $10.00 and set a sector perform rating on the stock in a research report on Friday, May 29th. Evercore ISI downgraded shares of Macerich from an in-line rating to an underperform rating in a research report on Monday, June 15th. Citigroup boosted their price target on shares of Macerich from $5.00 to $8.00 and gave the stock a neutral rating in a research report on Thursday, July 2nd. Finally, Compass Point assumed coverage on shares of Macerich in a research report on Thursday, June 4th. They issued a neutral rating and a $9.00 price target on the stock. Nine investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Macerich has a consensus rating of Sell and a consensus price target of $14.06.

NYSE:MAC opened at $7.78 on Monday. The firm’s 50 day simple moving average is $7.87 and its 200 day simple moving average is $8.72. The company has a debt-to-equity ratio of 2.18, a current ratio of 2.78 and a quick ratio of 2.78. Macerich has a one year low of $4.54 and a one year high of $31.44. The company has a market cap of $1.16 billion, a PE ratio of 19.95 and a beta of 1.76.

Macerich (NYSE:MAC) last posted its earnings results on Tuesday, August 11th. The real estate investment trust reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.12. Macerich had a net margin of 6.34% and a return on equity of 2.00%. The business had revenue of $168.70 million for the quarter, compared to the consensus estimate of $200.70 million. During the same period last year, the company earned $0.88 EPS. The firm’s revenue was down 25.9% compared to the same quarter last year. Equities research analysts expect that Macerich will post 2.55 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Wednesday, August 19th were paid a $0.15 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $0.60 annualized dividend and a dividend yield of 7.71%. Macerich’s dividend payout ratio is currently 16.95%.

Large investors have recently added to or reduced their stakes in the company. Pensionfund DSM Netherlands grew its stake in shares of Macerich by 5.2% in the 2nd quarter. Pensionfund DSM Netherlands now owns 24,720 shares of the real estate investment trust’s stock worth $222,000 after acquiring an additional 1,213 shares in the last quarter. Everett Harris & Co. CA grew its stake in shares of Macerich by 5.1% in the 2nd quarter. Everett Harris & Co. CA now owns 25,267 shares of the real estate investment trust’s stock worth $227,000 after acquiring an additional 1,237 shares in the last quarter. New Mexico Educational Retirement Board grew its stake in shares of Macerich by 5.2% in the 2nd quarter. New Mexico Educational Retirement Board now owns 27,552 shares of the real estate investment trust’s stock worth $247,000 after acquiring an additional 1,352 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC grew its stake in shares of Macerich by 5.1% in the 2nd quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 27,655 shares of the real estate investment trust’s stock worth $248,000 after acquiring an additional 1,354 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Macerich by 14.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,940 shares of the real estate investment trust’s stock worth $98,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors own 90.08% 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 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.

Further Reading: What is a CD ladder?

Analyst Recommendations for Macerich (NYSE:MAC)

Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with MarketBeat.com's FREE daily email newsletter.