Macerich Company (The) (MAC) Posts Quarterly Earnings Results, Misses Estimates By $0.86 EPS
Macerich Company (The) (NYSE:MAC) issued its earnings results on Monday. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.86), Yahoo Finance reports. Macerich Company (The) had a return on equity of 3.38% and a net margin of 14.39%. The firm had revenue of $242.50 million during the quarter, compared to the consensus estimate of $226.00 million. During the same quarter in the prior year, the business posted $1.04 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Macerich Company (The) updated its FY17 guidance to $3.90-$4.00 EPS.
Shares of Macerich Company (MAC) traded down 2.684% during mid-day trading on Tuesday, hitting $54.205. 1,081,813 shares of the stock were exchanged. The firm has a market cap of $7.67 billion, a P/E ratio of 53.299 and a beta of 0.80. Macerich Company has a 12 month low of $52.12 and a 12 month high of $73.34. The stock’s 50 day moving average is $55.85 and its 200 day moving average is $57.70.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend is Thursday, November 9th. This is a boost from Macerich Company (The)’s previous quarterly dividend of $0.71. Macerich Company (The)’s payout ratio is 278.43%.
Several research analysts have recently issued reports on MAC shares. KeyCorp restated a “buy” rating and issued a $75.00 target price on shares of Macerich Company (The) in a report on Monday, August 28th. BidaskClub upgraded shares of Macerich Company (The) from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Barclays PLC cut their price target on shares of Macerich Company (The) to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 18th. Zacks Investment Research upgraded shares of Macerich Company (The) from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Macerich Company (The) in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $66.93.
About Macerich Company (The)
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.
Receive News & Ratings for Macerich Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.