Mizuho reissued their hold rating on shares of Macerich Company (The) (NYSE:MAC) in a research note released on Friday morning. They currently have a $60.00 target price on the real estate investment trust’s stock.

MAC has been the topic of a number of other research reports. Boenning Scattergood set a $75.00 price target on shares of Macerich Company (The) and gave the company a buy rating in a research note on Wednesday, November 1st. Barclays PLC cut their price target on shares of Macerich Company (The) to $61.00 and set an equal weight rating on the stock in a research note on Tuesday, July 18th. KeyCorp reiterated a buy rating and issued a $75.00 price objective on shares of Macerich Company (The) in a report on Monday, August 28th. Royal Bank Of Canada reiterated a buy rating and issued a $66.00 price objective on shares of Macerich Company (The) in a report on Thursday, November 2nd. Finally, J P Morgan Chase & Co upgraded shares of Macerich Company (The) from a neutral rating to an overweight rating and set a $68.00 price objective on the stock in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. Macerich Company (The) presently has a consensus rating of Hold and an average target price of $66.80.

Macerich Company (NYSE MAC) opened at $64.07 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.25. Macerich Company has a one year low of $52.12 and a one year high of $73.34. The firm has a market cap of $9,061.55, a P/E ratio of 16.17, a price-to-earnings-growth ratio of 3.04 and a beta of 0.80.

Macerich Company (The) (NYSE:MAC) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.86). Macerich Company (The) had a net margin of 14.92% and a return on equity of 3.56%. The company had revenue of $242.50 million during the quarter, compared to the consensus estimate of $226.00 million. During the same period in the previous year, the firm posted $1.04 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. equities research analysts expect that Macerich Company will post 3.95 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 4.62%. This is an increase from Macerich Company (The)’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, November 9th. Macerich Company (The)’s payout ratio is presently 281.91%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. increased its holdings in Macerich Company (The) by 7.9% during the second quarter. Pacer Advisors Inc. now owns 2,774 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 203 shares during the last quarter. Parametrica Management Ltd acquired a new position in Macerich Company (The) during the second quarter worth $222,000. Sun Life Financial INC increased its holdings in Macerich Company (The) by 1,864.0% during the second quarter. Sun Life Financial INC now owns 3,928 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 3,728 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Macerich Company (The) during the third quarter worth $216,000. Finally, Riverhead Capital Management LLC increased its holdings in Macerich Company (The) by 11.8% during the second quarter. Riverhead Capital Management LLC now owns 4,111 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 435 shares during the last quarter. Institutional investors and hedge funds own 97.59% of the company’s stock.

About Macerich Company (The)

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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