Boenning Scattergood reiterated their hold rating on shares of Macerich Company (The) (NYSE:MAC) in a report published on Friday morning.

MAC has been the topic of several other reports. Barclays PLC decreased their price target on shares of Macerich Company (The) from $66.00 to $63.00 and set an equal weight rating on the stock in a report on Wednesday, April 19th. ValuEngine lowered shares of Macerich Company (The) from a buy rating to a hold rating in a report on Friday, June 2nd. Mizuho lowered shares of Macerich Company (The) from a buy rating to a neutral rating and decreased their price target for the company from $84.00 to $63.00 in a report on Tuesday, May 30th. BidaskClub raised shares of Macerich Company (The) from a sell rating to a hold rating in a report on Wednesday, July 19th. Finally, Citigroup Inc. reaffirmed a neutral rating on shares of Macerich Company (The) in a report on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. Macerich Company (The) presently has an average rating of Hold and a consensus target price of $70.46.

Macerich Company (MAC) opened at 60.61 on Friday. Macerich Company has a 52-week low of $56.06 and a 52-week high of $88.02. The firm has a 50-day moving average of $58.27 and a 200-day moving average of $62.59. The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 53.17 and a beta of 0.77.

Macerich Company (The) (NYSE:MAC) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. The firm had revenue of $247.20 million for the quarter, compared to analyst estimates of $218.62 million. Macerich Company (The) had a net margin of 14.39% and a return on equity of 3.38%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.02 EPS. On average, equities research analysts forecast that Macerich Company will post $1.03 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Friday, August 18th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.84 annualized dividend and a yield of 4.69%. Macerich Company (The)’s dividend payout ratio is presently 278.43%.

In related news, CEO Arthur M. Coppola sold 100,000 shares of Macerich Company (The) stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $58.13, for a total transaction of $5,813,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.75% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of MAC. Advantus Capital Management Inc increased its stake in Macerich Company (The) by 0.4% in the first quarter. Advantus Capital Management Inc now owns 12,020 shares of the real estate investment trust’s stock valued at $774,000 after buying an additional 47 shares in the last quarter. Pacer Advisors Inc. increased its stake in Macerich Company (The) by 3.1% in the first quarter. Pacer Advisors Inc. now owns 2,571 shares of the real estate investment trust’s stock valued at $166,000 after buying an additional 77 shares in the last quarter. Mason Street Advisors LLC increased its stake in Macerich Company (The) by 1.2% in the first quarter. Mason Street Advisors LLC now owns 16,705 shares of the real estate investment trust’s stock valued at $1,076,000 after buying an additional 190 shares in the last quarter. State Treasurer State of Michigan increased its stake in Macerich Company (The) by 0.5% in the first quarter. State Treasurer State of Michigan now owns 39,708 shares of the real estate investment trust’s stock valued at $2,557,000 after buying an additional 200 shares in the last quarter. Finally, Shell Asset Management Co. increased its stake in Macerich Company (The) by 1.9% in the first quarter. Shell Asset Management Co. now owns 12,593 shares of the real estate investment trust’s stock valued at $811,000 after buying an additional 231 shares in the last quarter. Institutional investors and hedge funds own 95.43% of the company’s stock.

Macerich Company (The) Company Profile

The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.

Analyst Recommendations for Macerich Company (The) (NYSE:MAC)

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