Royal Bank Of Canada Reaffirms Buy Rating for Macerich Company (The) (MAC)

Royal Bank Of Canada reissued their buy rating on shares of Macerich Company (The) (NYSE:MAC) in a report released on Thursday, November 2nd. Royal Bank Of Canada currently has a $66.00 target price on the real estate investment trust’s stock.

A number of other equities analysts have also recently commented on MAC. Citigroup Inc. dropped their price target on shares of Macerich Company (The) from $66.00 to $61.00 and set a neutral rating for the company 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 upgraded shares of Macerich Company (The) from a sell rating to a hold rating in a report on Tuesday, August 8th. KeyCorp restated a buy rating and issued a $75.00 price objective on shares of Macerich Company (The) in a report on Thursday, September 28th. Finally, Jefferies Group LLC restated a hold rating and issued a $57.00 price objective on shares of Macerich Company (The) in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $66.80.

Macerich Company (NYSE MAC) opened at $63.53 on Thursday. Macerich Company has a 52 week low of $52.12 and a 52 week high of $73.34. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $8,927.82, a PE ratio of 15.94, a price-to-earnings-growth ratio of 2.94 and a beta of 0.80.

Macerich Company (The) (NYSE:MAC) last posted its 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 return on equity of 3.56% and a net margin of 14.92%. The firm had revenue of $242.50 million for the quarter, compared to the consensus estimate of $226.00 million. During the same period last year, the company posted $1.04 EPS. The business’s revenue was down 4.3% on a year-over-year basis. equities research analysts anticipate 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. Shareholders of record on Friday, November 10th will be paid a dividend of $0.74 per share. This is a boost from Macerich Company (The)’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, November 9th. This represents a $2.96 dividend on an annualized basis and a yield of 4.66%. Macerich Company (The)’s dividend payout ratio (DPR) is presently 281.91%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAC. Pacer Advisors Inc. raised its stake in Macerich Company (The) by 7.9% during the 2nd 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 period. Meeder Asset Management Inc. bought a new stake in Macerich Company (The) during the 3rd quarter worth approximately $216,000. Parametrica Management Ltd bought a new stake in Macerich Company (The) during the 2nd quarter worth approximately $222,000. Sun Life Financial INC raised its position in shares of 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 valued at $228,000 after buying an additional 3,728 shares during the last quarter. Finally, Amica Pension Fund Board of Trustees bought a new stake in shares of Macerich Company (The) during the third quarter valued at approximately $229,000. Institutional investors own 97.81% of the company’s stock.

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.

Analyst Recommendations for Macerich Company (The) (NYSE:MAC)

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