Macerich Co (NYSE:MAC) – Analysts at Boenning Scattergood dropped their Q1 2018 earnings per share (EPS) estimates for shares of Macerich in a research note issued to investors on Tuesday. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the real estate investment trust will post earnings of $0.97 per share for the quarter, down from their prior forecast of $0.98. Boenning Scattergood has a “Buy” rating and a $75.00 price target on the stock. Boenning Scattergood also issued estimates for Macerich’s Q2 2018 earnings at $0.99 EPS, FY2018 earnings at $4.10 EPS, Q1 2019 earnings at $0.99 EPS, Q2 2019 earnings at $0.99 EPS, Q3 2019 earnings at $1.00 EPS, Q4 2019 earnings at $1.19 EPS and FY2019 earnings at $4.16 EPS.
Macerich (NYSE:MAC) last released its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.86). Macerich had a net margin of 14.92% and a return on equity of 3.56%. The business had revenue of $242.50 million for the quarter, compared to analyst estimates of $226.00 million. During the same period in the prior year, the business earned $1.04 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis.
MAC has been the subject of several other reports. Royal Bank of Canada reissued a “buy” rating and issued a $66.00 target price on shares of Macerich in a research note on Thursday, November 2nd. Wells Fargo & Co raised Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 target price for the company in a research note on Tuesday, December 19th. Evercore ISI cut Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 target price for the company. in a research note on Monday, December 11th. JPMorgan Chase & Co. raised Macerich from a “neutral” rating to an “overweight” rating and set a $68.00 target price for the company in a research note on Tuesday, September 26th. Finally, Jefferies Group reissued a “hold” rating and issued a $57.00 target price on shares of Macerich in a research note on Tuesday, September 26th. Two research 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. The stock currently has a consensus rating of “Hold” and a consensus target price of $66.85.
Shares of Macerich (NYSE MAC) opened at $63.54 on Wednesday. Macerich has a twelve month low of $52.12 and a twelve month high of $71.35. The firm has a market capitalization of $9,220.00, a price-to-earnings ratio of 60.51, a P/E/G ratio of 3.01 and a beta of 0.87. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.25.
Large investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC bought a new position in Macerich during the third quarter worth about $621,000. Bluestein R H & Co. bought a new position in Macerich during the third quarter worth about $632,000. TCW Group Inc. lifted its holdings in Macerich by 19.8% during the third quarter. TCW Group Inc. now owns 286,032 shares of the real estate investment trust’s stock worth $15,723,000 after acquiring an additional 47,216 shares in the last quarter. Amica Mutual Insurance Co. bought a new position in Macerich during the third quarter worth about $310,000. Finally, Third Point LLC bought a new position in Macerich during the third quarter worth about $94,878,000. Institutional investors and hedge funds own 97.58% of the company’s stock.
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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.
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