Macerich Company (The) (MAC) Given a $55.00 Price Target at BMO Capital Markets

BMO Capital Markets set a $55.00 price target on Macerich Company (The) (NYSE:MAC) in a research report report published on Monday morning. The firm currently has a hold rating on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on the stock. Citigroup Inc. reduced their price target on shares of Macerich Company (The) from $66.00 to $61.00 and set a neutral rating on the stock in a research report on Monday, August 14th. BidaskClub raised shares of Macerich Company (The) from a hold rating to a buy rating in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of Macerich Company (The) from a sell rating to a hold rating in a research report on Tuesday, August 8th. KeyCorp reaffirmed a buy rating and set a $75.00 price target on shares of Macerich Company (The) in a research report on Thursday, September 28th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $57.00 price target on shares of Macerich Company (The) in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. The company has an average rating of Hold and an average target price of $67.00.

Shares of Macerich Company (MAC) traded down $0.58 during trading on Monday, hitting $54.39. The stock had a trading volume of 2,922,680 shares, compared to its average volume of 1,580,943. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 13.98 and a beta of 0.80.

Macerich Company (The) (NYSE:MAC) last announced its earnings results on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.86). The business had revenue of $242.50 million for the quarter, compared to analyst estimates of $226.00 million. Macerich Company (The) had a net margin of 14.92% and a return on equity of 3.56%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.04 earnings per share. analysts predict that Macerich Company will post 3.96 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.96 dividend on an annualized basis and a yield of 5.44%. This is a boost from Macerich Company (The)’s previous quarterly dividend of $0.71. Macerich Company (The)’s dividend payout ratio (DPR) is currently 270.48%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sentry Investment Management LLC lifted its holdings in Macerich Company (The) by 1.1% in the second quarter. Sentry Investment Management LLC now owns 9,690 shares of the real estate investment trust’s stock worth $563,000 after acquiring an additional 102 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Macerich Company (The) by 0.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 18,917 shares of the real estate investment trust’s stock worth $1,098,000 after acquiring an additional 177 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Macerich Company (The) by 7.9% in the second quarter. Pacer Advisors Inc. now owns 2,774 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 203 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in Macerich Company (The) by 11.8% in the second quarter. Riverhead Capital Management LLC now owns 4,111 shares of the real estate investment trust’s stock worth $239,000 after acquiring an additional 435 shares during the last quarter. Finally, Ffcm LLC lifted its holdings in Macerich Company (The) by 6.4% in the second quarter. Ffcm LLC now owns 8,490 shares of the real estate investment trust’s stock worth $493,000 after acquiring an additional 510 shares during the last quarter. 94.68% of the stock is currently owned by hedge funds and other institutional investors.

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.

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