Wells Fargo & Co cut shares of Macerich (NYSE:MAC) from an outperform rating to a market perform rating in a research report sent to investors on Friday, Marketbeat Ratings reports. The brokerage currently has $43.00 price objective on the real estate investment trust’s stock.

MAC has been the subject of several other reports. ValuEngine cut shares of Macerich from a sell rating to a strong sell rating in a research note on Friday, November 16th. Mizuho set a $51.00 target price on Macerich and gave the stock a buy rating in a report on Sunday, December 16th. JPMorgan Chase & Co. cut Macerich from a neutral rating to an underweight rating in a research report on Wednesday, December 19th. Zacks Investment Research cut Macerich from a hold rating to a sell rating in a research report on Tuesday, December 18th. Finally, Morgan Stanley cut Macerich from an equal weight rating to an underweight rating and decreased their target price for the company from $58.00 to $45.00 in a research report on Monday, November 26th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $58.93.

MAC opened at $43.24 on Friday. The stock has a market capitalization of $6.10 billion, a PE ratio of 11.23, a PEG ratio of 2.41 and a beta of 0.92. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.96 and a current ratio of 0.99. Macerich has a twelve month low of $40.90 and a twelve month high of $61.91.

Macerich (NYSE:MAC) last released its earnings results on Thursday, February 7th. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.09. Macerich had a net margin of 6.25% and a return on equity of 2.41%. The company had revenue of $246.90 million for the quarter, compared to the consensus estimate of $228.64 million. During the same period in the prior year, the company posted $1.03 EPS. The company’s revenue was up .7% compared to the same quarter last year. Analysts expect that Macerich will post 3.68 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 21st will be given a $0.75 dividend. The ex-dividend date is Wednesday, February 20th. This represents a $3.00 annualized dividend and a dividend yield of 6.94%. Macerich’s payout ratio is 77.92%.

In related news, Director Daniel J. Hirsch acquired 4,500 shares of Macerich stock in a transaction on Tuesday, December 18th. The shares were bought at an average cost of $44.63 per share, with a total value of $200,835.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arthur M. Coppola sold 105,574 shares of the company’s stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $49.79, for a total value of $5,256,529.46. The disclosure for this sale can be found here. Insiders own 3.76% of the company’s stock.

A number of large investors have recently made changes to their positions in MAC. Ffcm LLC lifted its holdings in shares of Macerich by 174.7% during the 4th quarter. Ffcm LLC now owns 2,266 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 1,441 shares during the last quarter. BlackRock Inc. grew its position in shares of Macerich by 1.6% during the 4th quarter. BlackRock Inc. now owns 11,780,366 shares of the real estate investment trust’s stock valued at $509,854,000 after acquiring an additional 187,685 shares during the period. Utah Retirement Systems grew its position in shares of Macerich by 2.5% during the 4th quarter. Utah Retirement Systems now owns 36,719 shares of the real estate investment trust’s stock valued at $1,590,000 after acquiring an additional 900 shares during the period. Norinchukin Bank The grew its position in shares of Macerich by 40.3% during the 4th quarter. Norinchukin Bank The now owns 20,175 shares of the real estate investment trust’s stock valued at $873,000 after acquiring an additional 5,800 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Macerich by 1.1% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 32,220 shares of the real estate investment trust’s stock valued at $1,405,000 after acquiring an additional 356 shares during the period. 98.53% of the stock is currently owned by institutional investors.

Macerich Company Profile

Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 52 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.

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Analyst Recommendations for Macerich (NYSE:MAC)

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