The Macerich Co. (NYSE:MAC) – Analysts at SunTrust Banks lifted their FY2016 earnings per share estimates for shares of The Macerich in a note issued to investors on Tuesday. SunTrust Banks analyst K. Kim now forecasts that the brokerage will post earnings of $4.10 per share for the year, up from their previous estimate of $4.08.

Several other analysts have also issued reports on MAC. Deutsche Bank AG upped their target price on shares of The Macerich from $83.00 to $84.00 and gave the stock a “hold” rating in a research note on Monday, July 18th. Credit Suisse Group AG reiterated a “sell” rating and issued a $78.00 target price on shares of The Macerich in a research note on Tuesday, August 2nd. Zacks Investment Research lowered shares of The Macerich from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. JPMorgan Chase & Co. upped their target price on shares of The Macerich from $83.00 to $87.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Finally, Canaccord Genuity upped their target price on shares of The Macerich from $80.00 to $84.00 and gave the stock a “hold” rating in a research note on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. The Macerich currently has an average rating of “Hold” and a consensus target price of $87.73.

The Macerich (NYSE:MAC) opened at 82.43 on Wednesday. The firm has a 50-day moving average of $82.56 and a 200 day moving average of $81.09. The Macerich has a 12-month low of $71.82 and a 12-month high of $94.51. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of 13.85 and a beta of 0.98.

The Macerich (NYSE:MAC) last released its earnings results on Monday, August 1st. The real estate investment trust reported $1.02 EPS for the quarter, beating the 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 had revenue of $259.90 million for the quarter, compared to analyst estimates of $252.32 million. During the same period last year, the firm earned $0.90 EPS. The business’s quarterly revenue was down 19.5% compared to the same quarter last year.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in The Macerich by 0.4% in the second quarter. Vanguard Group Inc. now owns 23,283,485 shares of the real estate investment trust’s stock valued at $1,988,178,000 after buying an additional 91,093 shares during the period. BlackRock Fund Advisors increased its stake in 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 valued at $410,657,000 after buying an additional 877,068 shares during the period. JPMorgan Chase & Co. increased its stake in 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 valued at $275,668,000 after buying an additional 411,912 shares during the period. Bank of New York Mellon Corp increased its stake in 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 valued at $270,504,000 after buying an additional 711,058 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in 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 valued at $190,623,000 after buying an additional 1,062,848 shares during the period. 94.66% of the stock is currently owned by institutional investors and hedge funds.

In other The Macerich news, EVP Robert D. Perlmutter sold 1,500 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $89.79, for a total transaction of $134,685.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.54% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Friday, August 19th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 3.30%. The ex-dividend date was Wednesday, August 17th. The Macerich’s dividend payout ratio (DPR) is presently 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.

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