Macerich (NYSE:MAC) Stock Price Expected to Rise, LADENBURG THALM/SH SH Analyst Says

Macerich (NYSE:MAC) had its price target boosted by investment analysts at LADENBURG THALM/SH SH from $27.00 to $30.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. LADENBURG THALM/SH SH’s price target would suggest a potential upside of 26.82% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Scotiabank raised their price target on Macerich from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft raised Macerich from a “hold” rating to a “buy” rating and raised their price target for the stock from $20.00 to $27.00 in a research note on Tuesday, June 2nd. Morgan Stanley set a $20.00 price target on Macerich in a research note on Tuesday, April 14th. Weiss Ratings raised Macerich from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Finally, The Goldman Sachs Group raised their price target on Macerich from $17.00 to $19.00 and gave the stock a “sell” rating in a research note on Friday, May 15th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.08.

Macerich Stock Down 5.7%

Shares of MAC traded down $1.44 during midday trading on Tuesday, reaching $23.66. 6,922,277 shares of the stock were exchanged, compared to its average volume of 2,493,670. Macerich has a 12-month low of $15.48 and a 12-month high of $25.72. The firm has a 50 day simple moving average of $22.13 and a 200-day simple moving average of $19.92. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.96. The company has a market cap of $6.18 billion, a price-to-earnings ratio of -33.32, a P/E/G ratio of 1.71 and a beta of 2.10.

Macerich (NYSE:MAC) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Macerich had a negative return on equity of 6.95% and a negative net margin of 18.22%.The company had revenue of $241.54 million during the quarter, compared to the consensus estimate of $233.06 million. During the same period last year, the business earned $0.33 EPS. The business’s quarterly revenue was down 3.1% on a year-over-year basis. Research analysts forecast that Macerich will post 1.48 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MAC. Farther Finance Advisors LLC grew its holdings in Macerich by 76.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 585 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Macerich by 366.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 1,095 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Macerich by 80.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 684 shares during the last quarter. Triumph Capital Management acquired a new stake in Macerich in the 3rd quarter valued at approximately $33,000. Finally, Salomon & Ludwin LLC grew its holdings in Macerich by 156.6% in the 4th quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,336 shares during the last quarter. 87.38% of the stock is owned by institutional investors.

About Macerich

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.