Shares of The Macerich Co. (NYSE:MAC) have received a consensus recommendation of “Hold” from the fifteen brokerages that are currently covering the firm. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $87.25.

Several research firms recently issued reports on MAC. Jefferies Group raised their price objective on shares of The Macerich from $86.00 to $88.00 and gave the stock a “hold” rating in a research report on Wednesday, August 31st. JPMorgan Chase & Co. raised their price objective on shares of The Macerich from $83.00 to $87.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. Credit Suisse Group AG restated a “sell” rating and set a $78.00 price objective on shares of The Macerich in a research report on Tuesday, August 2nd. Deutsche Bank AG raised their price objective on shares of The Macerich from $83.00 to $84.00 and gave the stock a “hold” rating in a research report on Monday, July 18th. Finally, Canaccord Genuity raised their price objective on shares of The Macerich from $80.00 to $84.00 and gave the stock a “hold” rating in a research report on Tuesday, August 16th.

In other news, EVP Robert D. Perlmutter sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $89.79, for a total value of $134,685.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.54% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of MAC. Goldman Sachs Group Inc. increased its position in shares of The Macerich by 79.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,405,634 shares of the real estate investment trust’s stock worth $190,623,000 after buying an additional 1,062,848 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of The Macerich by 22.3% in the second quarter. BlackRock Fund Advisors now owns 4,809,198 shares of the real estate investment trust’s stock worth $410,657,000 after buying an additional 877,068 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of The Macerich by 28.9% in the second quarter. Bank of New York Mellon Corp now owns 3,167,891 shares of the real estate investment trust’s stock worth $270,504,000 after buying an additional 711,058 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of The Macerich by 131.0% in the first quarter. Renaissance Technologies LLC now owns 1,153,819 shares of the real estate investment trust’s stock worth $91,429,000 after buying an additional 654,300 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of The Macerich by 13.4% in the first quarter. JPMorgan Chase & Co. now owns 3,478,909 shares of the real estate investment trust’s stock worth $275,668,000 after buying an additional 411,912 shares in the last quarter. 94.66% of the stock is owned by institutional investors and hedge funds.

Shares of The Macerich (NYSE:MAC) traded down 0.35% during midday trading on Wednesday, hitting $80.00. 266,897 shares of the stock traded hands. The company has a market cap of $11.49 billion, a price-to-earnings ratio of 13.44 and a beta of 0.98. The stock has a 50-day moving average of $82.87 and a 200-day moving average of $81.08. The Macerich has a 52-week low of $71.82 and a 52-week high of $94.51.

The Macerich (NYSE:MAC) last released its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.04. The Macerich had a net margin of 78.65% and a return on equity of 17.91%. The firm earned $259.90 million during the quarter, compared to analysts’ expectations of $252.32 million. During the same period last year, the business earned $0.90 earnings per share. The Macerich’s revenue was down 19.5% compared to the same quarter last year. On average, equities analysts predict that The Macerich will post $4.11 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Friday, August 19th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 3.39%. The ex-dividend date was Wednesday, August 17th. The Macerich’s payout ratio is 45.87%.

About The Macerich

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.

5 Day Chart for NYSE:MAC

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