KeyCorp reaffirmed their buy rating on shares of Macerich Company (The) (NYSE:MAC) in a research report sent to investors on Monday morning. KeyCorp currently has a $75.00 price objective on the real estate investment trust’s stock.

MAC has been the topic of a number of other research reports. Barclays PLC reduced their target price on Macerich Company (The) to $61.00 and set an equal weight rating on the stock in a report on Tuesday, July 18th. ValuEngine cut Macerich Company (The) from a buy rating to a hold rating in a report on Friday, June 2nd. Citigroup Inc. reiterated a neutral rating on shares of Macerich Company (The) in a report on Thursday, May 11th. BidaskClub upgraded Macerich Company (The) from a sell rating to a hold rating in a report on Thursday, July 6th. Finally, Mizuho cut Macerich Company (The) from a buy rating to a neutral rating and reduced their target price for the company from $84.00 to $63.00 in a report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $69.79.

Shares of Macerich Company (NYSE:MAC) opened at 53.08 on Monday. Macerich Company has a 1-year low of $52.55 and a 1-year high of $83.71. The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 52.19 and a beta of 0.77. The firm has a 50-day moving average price of $57.21 and a 200-day moving average price of $61.04.

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

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Wednesday, August 16th. Macerich Company (The)’s dividend payout ratio is presently 278.43%.

In other Macerich Company (The) news, CEO Arthur M. Coppola sold 100,000 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $58.13, for a total transaction of $5,813,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.75% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MAC. BlackRock Inc. boosted its position in shares of Macerich Company (The) by 2,249.6% in the first quarter. BlackRock Inc. now owns 12,358,247 shares of the real estate investment trust’s stock worth $795,870,000 after buying an additional 11,832,272 shares in the last quarter. Morgan Stanley boosted its position in shares of Macerich Company (The) by 104.8% in the first quarter. Morgan Stanley now owns 5,649,199 shares of the real estate investment trust’s stock worth $363,809,000 after buying an additional 2,890,935 shares in the last quarter. AEW Capital Management L P boosted its position in shares of Macerich Company (The) by 306.7% in the second quarter. AEW Capital Management L P now owns 3,132,200 shares of the real estate investment trust’s stock worth $35,531,000 after buying an additional 2,362,121 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Macerich Company (The) by 140.0% in the second quarter. Canada Pension Plan Investment Board now owns 898,583 shares of the real estate investment trust’s stock worth $52,172,000 after buying an additional 524,100 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Macerich Company (The) by 188.1% in the second quarter. Russell Investments Group Ltd. now owns 649,525 shares of the real estate investment trust’s stock worth $37,775,000 after buying an additional 424,049 shares in the last quarter. Institutional investors own 96.98% 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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