Macerich Co (NYSE:MAC) – Boenning Scattergood decreased their Q1 2018 earnings per share estimates for Macerich in a report released on Wednesday. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the real estate investment trust will post earnings of $0.82 per share for the quarter, down from their prior forecast of $0.97. Boenning Scattergood currently has a “Buy” rating and a $75.00 target price on the stock. Boenning Scattergood also issued estimates for Macerich’s Q2 2018 earnings at $0.95 EPS, Q3 2018 earnings at $1.00 EPS, FY2018 earnings at $3.99 EPS, Q1 2019 earnings at $0.95 EPS, Q2 2019 earnings at $0.98 EPS, Q3 2019 earnings at $1.03 EPS, Q4 2019 earnings at $1.22 EPS and FY2019 earnings at $4.18 EPS.
Macerich (NYSE:MAC) last posted its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.11). The company had revenue of $245.30 million during the quarter, compared to analysts’ expectations of $237.90 million. Macerich had a return on equity of 3.91% and a net margin of 14.71%. The company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 EPS.
Macerich (MAC) opened at $60.19 on Thursday. The stock has a market cap of $8,397.10, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 2.82 and a beta of 0.83. Macerich has a fifty-two week low of $52.12 and a fifty-two week high of $69.73. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.30.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Wednesday, February 21st will be issued a $0.74 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.96 dividend on an annualized basis and a yield of 4.92%. Macerich’s payout ratio is 290.20%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MAC. Meeder Asset Management Inc. purchased a new position in Macerich in the third quarter valued at $216,000. Amica Pension Fund Board of Trustees purchased a new position in Macerich in the third quarter valued at $229,000. Miracle Mile Advisors LLC purchased a new position in Macerich in the fourth quarter valued at $250,000. Cowen Prime Services LLC purchased a new position in Macerich in the fourth quarter valued at $263,000. Finally, Koch Industries Inc. purchased a new position in Macerich in the second quarter valued at $289,000. 98.21% of the stock is owned by institutional investors.
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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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