Macerich Company (The) (NYSE: MAC) recently received a number of ratings updates from brokerages and research firms:
- 7/17/2017 – Macerich Company (The) had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $57.00 price target on the stock.
- 7/17/2017 – Macerich Company (The) was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Macerich underperformed the Zacks categorized REIT – Equity Trust – Retail industry in the last three months. Notably, increasing consumer purchases through the Internet has emerged as a pressing concern for retail REITs. While Macerich is striving to counter such pressure through various initiatives, this factor poses a challenge to the company’s growth and is likely to restrict any growth in margins in the near term. Also, geographic concentration of assets and hike in interest rate raise its risk. Nevertheless, estimates for funds from operations (FFO) per share have been stable lately ahead of the company’s second-quarter earnings release. The company has mixed record of surprises in recent quarters. The company also enjoys a premium portfolio and presence of well-capitalized tenants in its roster.”
- 7/12/2017 – Macerich Company (The) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 7/6/2017 – Macerich Company (The) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
- 6/28/2017 – Macerich Company (The) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
- 6/2/2017 – Macerich Company (The) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
- 5/30/2017 – Macerich Company (The) was downgraded by analysts at Mizuho from a “buy” rating to a “neutral” rating. They now have a $63.00 price target on the stock, down previously from $84.00.
Macerich Company (NYSE MAC) opened at 59.05 on Tuesday. Macerich Company has a 12 month low of $56.06 and a 12 month high of $94.51. The company has a 50 day moving average of $58.25 and a 200 day moving average of $64.52. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 51.80 and a beta of 0.77.
Macerich Company (The) (NYSE:MAC) last posted its earnings results on Thursday, April 27th. The real estate investment trust reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.03. The firm had revenue of $219.90 million during the quarter, compared to analysts’ expectations of $222.65 million. Macerich Company (The) had a return on equity of 3.72% and a net margin of 16.01%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 earnings per share. On average, equities analysts predict that Macerich Company will post $0.98 EPS for the current year.
In related news, CEO Arthur M. Coppola sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $58.13, for a total transaction of $5,813,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.75% of the stock is owned by insiders.
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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