Macerich Co (NYSE:MAC) – Research analysts at Jefferies Group lifted their FY2019 EPS estimates for shares of Macerich in a report released on Monday. Jefferies Group analyst O. Okusanya now anticipates that the real estate investment trust will post earnings of $4.21 per share for the year, up from their previous forecast of $4.16.
Macerich (NYSE:MAC) last released its earnings results on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.11). Macerich had a net margin of 14.71% and a return on equity of 3.91%. The business had revenue of $245.30 million for the quarter, compared to analyst estimates of $237.90 million. During the same quarter in the previous year, the company posted $1.17 earnings per share. The business’s revenue for the quarter was down 6.2% on a year-over-year basis.
A number of other research firms also recently issued reports on MAC. BMO Capital Markets set a $62.00 target price on shares of Macerich and gave the company a “hold” rating in a research report on Monday, February 5th. Evercore ISI cut Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 price target for the company. in a research note on Monday, December 11th. Zacks Investment Research cut Macerich from a “hold” rating to a “sell” rating in a research note on Monday, January 15th. Royal Bank of Canada cut Macerich from an “outperform” rating to a “sector perform” rating and set a $66.00 price target for the company. in a research note on Wednesday, January 3rd. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Macerich in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. Macerich presently has a consensus rating of “Hold” and a consensus target price of $67.09.
Macerich (MAC) traded up $0.53 during trading on Wednesday, reaching $61.36. 750,024 shares of the company’s stock were exchanged, compared to its average volume of 2,090,175. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30. Macerich has a 52 week low of $52.12 and a 52 week high of $69.73. The firm has a market cap of $8,558.99, a P/E ratio of 59.64, a PEG ratio of 2.91 and a beta of 0.83.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Wednesday, February 21st will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Tuesday, February 20th. Macerich’s dividend payout ratio is 290.20%.
Institutional investors have recently made changes to their positions in the business. Sentry Investment Management LLC increased its position in Macerich by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 9,690 shares of the real estate investment trust’s stock worth $563,000 after buying an additional 102 shares during the period. Public Employees Retirement Association of Colorado increased its position in Macerich by 3.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 24,163 shares of the real estate investment trust’s stock worth $1,587,000 after buying an additional 871 shares during the period. DnB Asset Management AS increased its position in Macerich by 7.7% during the 4th quarter. DnB Asset Management AS now owns 12,595 shares of the real estate investment trust’s stock worth $827,000 after buying an additional 900 shares during the period. PNC Financial Services Group Inc. increased its position in Macerich by 19.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,807 shares of the real estate investment trust’s stock worth $337,000 after buying an additional 934 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in Macerich by 8.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 15,434 shares of the real estate investment trust’s stock worth $1,014,000 after buying an additional 1,166 shares during the period. 98.27% of the stock is owned by institutional investors and hedge funds.
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Macerich Company Profile
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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