Macerich (NYSE:MAC) Stock Rating Upgraded by Scotiabank

Macerich (NYSE:MAC) was upgraded by equities research analysts at Scotiabank from a “sector underperform” rating to a “sector perform” rating in a research note issued to investors on Tuesday, Marketbeat reports. The firm presently has a $22.00 price target on the real estate investment trust’s stock. Scotiabank’s price objective points to a potential upside of 9.84% from the company’s current price.

MAC has been the subject of a number of other reports. Compass Point boosted their price target on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Macerich in a research note on Tuesday. They set a “hold” rating and a $22.00 target price for the company. Piper Sandler raised their price target on shares of Macerich from $14.00 to $17.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group boosted their price objective on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research report on Thursday, September 19th. Finally, Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.86.

Macerich Trading Down 6.2 %

NYSE MAC opened at $20.03 on Tuesday. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 51.36, a price-to-earnings-growth ratio of 0.74 and a beta of 2.51. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. Macerich has a 12 month low of $12.99 and a 12 month high of $22.27. The company’s fifty day moving average price is $19.71 and its two-hundred day moving average price is $17.12.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.90). The company had revenue of $220.20 million for the quarter, compared to the consensus estimate of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS. As a group, research analysts predict that Macerich will post 1.56 earnings per share for the current fiscal year.

Institutional Trading of Macerich

Several large investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System increased its holdings in shares of Macerich by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 108,500 shares of the real estate investment trust’s stock valued at $1,675,000 after purchasing an additional 1,500 shares during the period. Bailard Inc. bought a new stake in shares of Macerich during the 2nd quarter worth about $468,000. Leisure Capital Management acquired a new stake in shares of Macerich in the 2nd quarter worth approximately $571,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Macerich by 1.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,018 shares of the real estate investment trust’s stock valued at $1,483,000 after acquiring an additional 1,798 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Macerich by 6.9% during the second quarter. Van ECK Associates Corp now owns 33,149 shares of the real estate investment trust’s stock valued at $512,000 after acquiring an additional 2,147 shares during the period. 87.38% of the stock is currently owned by institutional investors and hedge funds.

About Macerich

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.