The Macerich Co. (NYSE:MAC) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $90.26 and last traded at $89.76, with a volume of 380,877 shares. The stock had previously closed at $89.12.

MAC has been the subject of several analyst reports. Mizuho initiated coverage on shares of The Macerich in a report on Wednesday, April 13th. They issued a “neutral” rating and a $88.00 target price for the company. Zacks Investment Research lowered shares of The Macerich from a “buy” rating to a “hold” rating in a report on Monday, April 25th. Boenning Scattergood lowered shares of The Macerich from an “outperform” rating to a “neutral” rating in a report on Wednesday, April 6th. Deutsche Bank AG increased their target price on shares of The Macerich from $83.00 to $84.00 and gave the stock a “hold” rating in a report on Monday, July 18th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $80.00 target price on shares of The Macerich in a report on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $85.50.

The stock has a 50 day moving average price of $85.08 and a 200 day moving average price of $79.60. The company has a market capitalization of $13.25 billion and a P/E ratio of 15.81.

The Macerich (NYSE:MAC) last announced its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.01. The company earned $256 million during the quarter, compared to analyst estimates of $288.89 million. The company’s revenue was down 19.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share. Analysts anticipate that The Macerich Co. will post $4.10 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Friday, August 19th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Wednesday, August 17th.

In other The Macerich news, CFO Hern Thomas E. O sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $79.03, for a total value of $395,150.00. Following the completion of the transaction, the chief financial officer now directly owns 51,377 shares of the company’s stock, valued at $4,060,324.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert D. Perlmutter sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $77.13, for a total value of $115,695.00. The disclosure for this sale can be found here.

Several hedge funds have bought and sold shares of the stock. Mutual of America Capital Management LLC boosted its stake in The Macerich by 0.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 15,059 shares of the real estate investment trust’s stock worth $1,215,000 after buying an additional 71 shares during the period. Wells Fargo & Company MN boosted its stake in The Macerich by 0.7% in the fourth quarter. Wells Fargo & Company MN now owns 125,207 shares of the real estate investment trust’s stock worth $10,102,000 after buying an additional 835 shares during the period. KBC Group NV boosted its stake in The Macerich by 2.5% in the fourth quarter. KBC Group NV now owns 40,113 shares of the real estate investment trust’s stock worth $3,237,000 after buying an additional 983 shares during the period. Alpine Woods Capital Investors LLC boosted its stake in The Macerich by 3.6% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 32,028 shares of the real estate investment trust’s stock worth $2,584,000 after buying an additional 1,100 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake in The Macerich by 4.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 36,010 shares of the real estate investment trust’s stock worth $2,906,000 after buying an additional 1,559 shares during the period.

The Macerich 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. It owns 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers.

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