Royal Bank of Canada cut shares of Macerich (NYSE:MAC) from an outperform rating to a sector perform rating in a research report released on Wednesday morning, MarketBeat.com reports. They currently have $66.00 price target on the real estate investment trust’s stock.

A number of other research firms also recently weighed in on MAC. Jefferies Group reaffirmed a hold rating and set a $57.00 price objective on shares of Macerich in a report on Tuesday, September 26th. Evercore ISI downgraded Macerich from an in-line rating to an underperform rating and set a $62.00 price objective on the stock. in a report on Monday, December 11th. Boenning Scattergood set a $75.00 price objective on Macerich and gave the company a buy rating in a report on Wednesday, November 1st. Mizuho reaffirmed a hold rating and set a $60.00 price objective on shares of Macerich in a report on Friday, November 10th. Finally, BMO Capital Markets initiated coverage on shares of Macerich in a research note on Monday, September 11th. They issued a market perform rating and a $55.00 target price for the company. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. Macerich presently has a consensus rating of Hold and a consensus price target of $66.85.

Shares of Macerich (NYSE:MAC) opened at $64.81 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $9,009.46, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 2.97 and a beta of 0.88. Macerich has a 1-year low of $52.12 and a 1-year high of $73.34.

Macerich (NYSE:MAC) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.86). The company had revenue of $242.50 million for the quarter, compared to analyst estimates of $226.00 million. Macerich had a net margin of 14.92% and a return on equity of 3.56%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.04 earnings per share. equities research analysts predict that Macerich will post 3.94 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of MAC. Pacer Advisors Inc. raised its position in Macerich by 7.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,774 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 203 shares during the last quarter. Sun Life Financial INC raised its position in Macerich by 1,864.0% in the 2nd quarter. Sun Life Financial INC now owns 3,928 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 3,728 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Macerich in the 3rd quarter worth approximately $216,000. Riverhead Capital Management LLC raised its position in Macerich by 11.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,111 shares of the real estate investment trust’s stock worth $239,000 after purchasing an additional 435 shares during the last quarter. Finally, Amica Pension Fund Board of Trustees bought a new position in Macerich in the 3rd quarter worth approximately $229,000. Institutional investors own 97.58% of the company’s stock.

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Macerich 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 (NYSE:MAC)

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