Boenning Scattergood upgraded shares of Macerich Company (The) (NYSE:MAC) from a neutral rating to an outperform rating in a report released on Wednesday morning, MarketBeat.com reports.

MAC has been the subject of a number of other reports. BidaskClub upgraded Macerich Company (The) from a hold rating to a buy rating in a research note on Wednesday, August 9th. ValuEngine downgraded Macerich Company (The) from a buy rating to a hold rating in a research note on Friday, June 2nd. Barclays PLC lowered their price objective on Macerich Company (The) to $61.00 and set an equal weight rating for the company in a research note on Tuesday, July 18th. Mizuho downgraded Macerich Company (The) from a buy rating to a neutral rating and lowered their price objective for the stock from $84.00 to $63.00 in a research note on Tuesday, May 30th. Finally, Citigroup Inc. restated a neutral rating on shares of Macerich Company (The) in a research note on Thursday, May 11th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $69.79.

Shares of Macerich Company (NYSE:MAC) traded up 1.65% during mid-day trading on Wednesday, reaching $54.26. 1,323,820 shares of the company’s stock traded hands. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 53.35 and a beta of 0.77. The firm’s 50-day moving average is $57.21 and its 200 day moving average is $61.04. Macerich Company has a one year low of $52.55 and a one year high of $83.71.

Macerich Company (The) (NYSE:MAC) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.04. The firm had revenue of $247.20 million during the quarter, compared to the consensus estimate of $218.62 million. Macerich Company (The) had a return on equity of 3.38% and a net margin of 14.39%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.02 EPS. Analysts predict that Macerich Company will post $1.05 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Friday, August 18th will be paid a $0.71 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.84 annualized dividend and a dividend yield of 5.23%. Macerich Company (The)’s payout ratio is 278.43%.

In other news, CEO Arthur M. Coppola sold 100,000 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $58.13, for a total value of $5,813,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.75% of the company’s stock.

Several hedge funds have recently made changes to their positions in MAC. FDO Partners LLC purchased a new stake in shares of Macerich Company (The) during the first quarter valued at $1,201,000. Global X Management Co. LLC raised its stake in shares of Macerich Company (The) by 45.5% in the first quarter. Global X Management Co. LLC now owns 5,185 shares of the real estate investment trust’s stock valued at $334,000 after buying an additional 1,621 shares during the period. SG Americas Securities LLC raised its stake in shares of Macerich Company (The) by 24.1% in the first quarter. SG Americas Securities LLC now owns 39,432 shares of the real estate investment trust’s stock valued at $2,539,000 after buying an additional 7,655 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Macerich Company (The) by 1.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 95,143 shares of the real estate investment trust’s stock valued at $6,127,000 after buying an additional 1,083 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Macerich Company (The) by 352.9% in the first quarter. Canada Pension Plan Investment Board now owns 374,483 shares of the real estate investment trust’s stock valued at $24,117,000 after buying an additional 291,800 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

About Macerich Company (The)

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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