Macerich Company (The) (NYSE:MAC) – SunTrust Banks dropped their Q3 2017 earnings estimates for Macerich Company (The) in a research report issued to clients and investors on Monday. SunTrust Banks analyst K. Kim now expects that the real estate investment trust will post earnings of $1.02 per share for the quarter, down from their prior estimate of $1.03. SunTrust Banks also issued estimates for Macerich Company (The)’s FY2017 earnings at $3.96 EPS, FY2019 earnings at $5.19 EPS, FY2020 earnings at $5.28 EPS and FY2021 earnings at $5.36 EPS.

MAC has been the subject of a number of other reports. Royal Bank Of Canada reissued a “buy” rating and issued a $73.00 target price on shares of Macerich Company (The) in a report on Wednesday, February 22nd. Mizuho reissued a “buy” rating and issued a $82.00 target price on shares of Macerich Company (The) in a report on Monday, March 13th. Goldman Sachs Group, Inc. (The) cut Macerich Company (The) from a “neutral” rating to a “sell” rating and set a $64.00 target price for the company. in a report on Friday, March 17th. Deutsche Bank AG dropped their target price on Macerich Company (The) to $65.00 and set a “hold” rating for the company in a report on Tuesday, March 21st. Finally, KeyCorp dropped their target price on Macerich Company (The) from $80.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday, March 22nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Macerich Company (The) presently has a consensus rating of “Hold” and a consensus target price of $73.71.

Earnings History and Estimates for Macerich Company (The) (NYSE:MAC)

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Macerich Company (NYSE:MAC) opened at 58.47 on Thursday. Macerich Company has a 52-week low of $56.06 and a 52-week high of $94.51. The company’s 50-day moving average price is $59.50 and its 200-day moving average price is $65.38. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 51.29 and a beta of 0.78.

Macerich Company (The) (NYSE:MAC) last issued its earnings results on Thursday, April 27th. The real estate investment trust reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. Macerich Company (The) had a return on equity of 3.72% and a net margin of 16.01%. The company had revenue of $219.90 million during the quarter, compared to analyst estimates of $222.65 million. During the same quarter last year, the firm earned $0.87 EPS. The business’s revenue was down 6.1% on a year-over-year basis.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ raised its position in shares of Macerich Company (The) by 6.5% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 18,085 shares of the real estate investment trust’s stock worth $1,165,000 after buying an additional 1,100 shares during the last quarter. Achmea Investment Management B.V. purchased a new position in shares of Macerich Company (The) during the first quarter worth approximately $1,076,000. Bank of Nova Scotia purchased a new position in shares of Macerich Company (The) during the first quarter worth approximately $1,603,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Macerich Company (The) during the first quarter worth approximately $1,207,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Macerich Company (The) by 1.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 919,374 shares of the real estate investment trust’s stock worth $59,208,000 after buying an additional 13,994 shares during the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Friday, May 5th were given a $0.71 dividend. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 4.83%. Macerich Company (The)’s payout ratio is 249.12%.

Macerich Company (The) 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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