Macerich (NYSE:MAC) Upgraded at Mizuho

Macerich (NYSE:MAC - Get Free Report) was upgraded by stock analysts at Mizuho from a "neutral" rating to an "outperform" rating in a research report issued on Tuesday, Marketbeat reports. The brokerage currently has a $18.00 target price on the real estate investment trust's stock, down from their previous target price of $22.00. Mizuho's target price points to a potential upside of 7.80% from the stock's current price.

MAC has been the topic of a number of other reports. Truist Financial raised their price target on shares of Macerich from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday. Morgan Stanley lowered their target price on Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Scotiabank cut their price target on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a report on Monday, March 10th. Finally, Piper Sandler raised Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 target price on the stock in a report on Thursday, May 22nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $18.78.

Macerich Stock Up 1.6%

Shares of Macerich stock traded up $0.27 on Tuesday, reaching $16.70. 2,434,960 shares of the company were exchanged, compared to its average volume of 1,940,388. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The company has a 50-day moving average of $15.07 and a 200 day moving average of $18.04. Macerich has a one year low of $12.48 and a one year high of $22.27. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 42.81, a PEG ratio of 0.71 and a beta of 2.17.

Macerich (NYSE:MAC - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. The company had revenue of $249.22 million during the quarter, compared to analysts' expectations of $221.61 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The business's revenue was up 19.3% on a year-over-year basis. During the same period last year, the firm posted $0.33 earnings per share. On average, equities research analysts forecast that Macerich will post 1.55 earnings per share for the current year.

Hedge Funds Weigh In On Macerich

A number of institutional investors have recently modified their holdings of MAC. Smartleaf Asset Management LLC increased its stake in Macerich by 314.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock valued at $69,000 after purchasing an additional 2,630 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Macerich by 20.4% during the fourth quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust's stock worth $893,000 after acquiring an additional 7,608 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Macerich by 2.2% in the 4th quarter. New York State Teachers Retirement System now owns 183,508 shares of the real estate investment trust's stock worth $3,655,000 after acquiring an additional 3,979 shares during the last quarter. FIL Ltd raised its holdings in shares of Macerich by 4.7% in the 4th quarter. FIL Ltd now owns 1,158,518 shares of the real estate investment trust's stock worth $23,078,000 after acquiring an additional 51,994 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Macerich by 7.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,162,987 shares of the real estate investment trust's stock valued at $43,087,000 after acquiring an additional 142,566 shares in the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

About Macerich

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.