Macerich (NYSE:MAC) Earns “Sell (D+)” Rating from Weiss Ratings

Macerich (NYSE:MAC)‘s stock had its “sell (d+)” rating restated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Saturday,Weiss Ratings reports.

Several other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Wednesday, August 27th. LADENBURG THALM/SH SH started coverage on shares of Macerich in a research report on Friday, July 18th. They set a “buy” rating and a $25.00 target price on the stock. Wall Street Zen downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Evercore ISI raised their price target on shares of Macerich from $18.00 to $20.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Finally, Scotiabank increased their price objective on Macerich from $16.00 to $18.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Macerich presently has an average rating of “Hold” and an average target price of $20.11.

Macerich Price Performance

NYSE MAC opened at $18.01 on Friday. The company has a 50 day moving average price of $17.72 and a two-hundred day moving average price of $16.55. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.00. Macerich has a 12-month low of $12.48 and a 12-month high of $22.27. The stock has a market capitalization of $4.55 billion, a PE ratio of -10.29, a price-to-earnings-growth ratio of 3.15 and a beta of 2.23.

Macerich (NYSE:MAC) last issued its quarterly earnings data on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Macerich had a negative return on equity of 15.15% and a negative net margin of 41.33%.The firm had revenue of $249.79 million during the quarter, compared to analyst estimates of $245.19 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Macerich’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts predict that Macerich will post 1.55 earnings per share for the current fiscal year.

Institutional Trading of Macerich

Several hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp increased its stake in Macerich by 47.7% in the second quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 972 shares in the last quarter. Signaturefd LLC grew its stake in Macerich by 34.9% in the 1st quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 862 shares during the period. Quarry LP grew its stake in Macerich by 2,691.6% in the 1st quarter. Quarry LP now owns 3,322 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 3,203 shares during the period. Archer Investment Corp bought a new position in Macerich in the 1st quarter valued at $98,000. Finally, GAMMA Investing LLC grew its stake in Macerich by 14.8% in the 3rd quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 691 shares during the period. Institutional investors own 87.38% of the company’s stock.

About Macerich

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.