Macerich (NYSE:MAC) Raised to Hold at StockNews.com

Macerich (NYSE:MACGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Several other equities research analysts have also recently weighed in on MAC. Wells Fargo & Company dropped their price objective on Macerich from $17.00 to $15.00 and set an “underweight” rating for the company in a report on Thursday, April 7th. TheStreet lowered Macerich from a “c” rating to a “d+” rating in a research report on Thursday, February 10th. Morgan Stanley decreased their target price on Macerich from $14.75 to $14.00 and set an “underweight” rating for the company in a research report on Monday, March 7th. Piper Sandler lowered Macerich from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $18.00 to $14.00 in a research report on Monday, April 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Macerich from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, March 31st. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.80.

NYSE MAC opened at $12.60 on Thursday. Macerich has a fifty-two week low of $11.76 and a fifty-two week high of $22.88. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.21 and a current ratio of 1.27. The stock has a 50 day simple moving average of $14.15 and a two-hundred day simple moving average of $16.54. The stock has a market cap of $2.70 billion, a P/E ratio of 63.00, a price-to-earnings-growth ratio of 1.77 and a beta of 1.88.

Macerich (NYSE:MACGet Rating) last released its quarterly earnings data on Monday, May 9th. The real estate investment trust reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.63). Macerich had a return on equity of 1.29% and a net margin of 4.66%. The business had revenue of $216.10 million during the quarter, compared to analysts’ expectations of $209.20 million. During the same quarter last year, the business posted $0.45 EPS. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. Sell-side analysts predict that Macerich will post 1.96 earnings per share for the current year.

In other Macerich news, President Edward C. Coppola bought 10,000 shares of Macerich stock in a transaction on Monday, March 28th. The stock was acquired at an average price of $14.98 per share, with a total value of $149,800.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, President Edward C. Coppola bought 2,100 shares of Macerich stock in a transaction on Thursday, March 31st. The stock was acquired at an average cost of $15.90 per share, with a total value of $33,390.00. Following the acquisition, the president now owns 475,739 shares in the company, valued at approximately $7,564,250.10. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 22,100 shares of company stock valued at $329,390. 1.94% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Whittier Trust Co. increased its holdings in shares of Macerich by 201.1% in the 1st quarter. Whittier Trust Co. now owns 2,246 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 1,500 shares in the last quarter. West Bancorporation Inc. purchased a new position in shares of Macerich in the 4th quarter worth $40,000. Spire Wealth Management boosted its stake in shares of Macerich by 106.6% in the 4th quarter. Spire Wealth Management now owns 2,424 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 1,251 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Macerich in the 4th quarter worth $53,000. Finally, Compagnie Lombard Odier SCmA boosted its stake in shares of Macerich by 546.2% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 4,200 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 3,550 shares during the last quarter. 84.57% of the stock is owned by institutional investors and hedge funds.

Macerich Company Profile (Get Rating)

Macerich 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.

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Analyst Recommendations for Macerich (NYSE:MAC)

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