Macerich (NYSE:MAC) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Equities researchers at Deutsche Bank Aktiengesellschaft assumed coverage on shares of Macerich (NYSE:MAC) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm set a “hold” rating and a $22.00 price target on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 9.84% from the stock’s previous close.

Several other research firms also recently commented on MAC. Compass Point increased their price objective on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and increased their target price for the company from $14.00 to $22.00 in a research report on Wednesday, December 4th. Bank of America boosted their price target on shares of Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Evercore ISI raised their target price on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Finally, StockNews.com cut Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Macerich presently has an average rating of “Hold” and an average target price of $18.86.

Macerich Stock Down 6.2 %

MAC stock opened at $20.03 on Tuesday. Macerich has a 52 week low of $12.99 and a 52 week high of $22.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The firm has a 50-day simple moving average of $19.71 and a 200-day simple moving average of $17.12. The stock has a market capitalization of $4.98 billion, a P/E ratio of 51.36, a P/E/G ratio of 0.74 and a beta of 2.51.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.90). The firm had revenue of $220.20 million for the quarter, compared to analysts’ expectations of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. Macerich’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share. Equities analysts forecast that Macerich will post 1.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Smead Capital Management Inc. raised its position in Macerich by 3.5% in the third quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock valued at $372,706,000 after purchasing an additional 688,790 shares during the period. FMR LLC lifted its position in Macerich by 12,475.9% in the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock valued at $214,738,000 after buying an additional 11,679,276 shares during the last quarter. Geode Capital Management LLC boosted its stake in Macerich by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust’s stock worth $99,004,000 after buying an additional 34,982 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Macerich by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,801,369 shares of the real estate investment trust’s stock valued at $87,577,000 after acquiring an additional 113,128 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Macerich by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,217,373 shares of the real estate investment trust’s stock valued at $49,675,000 after acquiring an additional 126,192 shares during the period. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

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.