UBS AG Lowers The Macerich Company to Neutral (MAC)
The Macerich Company (NYSE: MAC) was downgraded by UBS AG (NYSE: UBS) from a “buy” rating to a “neutral” rating in a research note issued on Thursday. They currently have a $61.00 price target on the stock.
A number of other analysts have also recently weighed in on MAC. Analysts at Zacks reiterated a “neutral” rating on shares of The Macerich Company in a research note to investors on Tuesday. They now have a $65.00 price target on the stock. Analysts at Jefferies Group (NYSE: JEF) upgraded shares of The Macerich Company from a “hold” rating to a “buy” rating in a research note to investors on Thursday, March 8th. They now have a $61.00 price target on the stock.
Shares of The Macerich Company traded down 0.58% during mid-day trading on Thursday, hitting $60.33. The Macerich Company has a 52 week low of $38.64 and a 52 week high of $62.83. The company has a market cap of $8.007 billion and a P/E ratio of 58.12.
The Macerich Company last posted its quarterly earnings results on Wednesday, May 2nd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts expect that The Macerich Company will post $0.76 EPS next quarter.
The Macerich Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community shopping centers located throughout the United States.