Q4 2018 EPS Estimates for Macerich Co (MAC) Lifted by Analyst

Macerich Co (NYSE:MAC) – Equities researchers at Boenning Scattergood boosted their Q4 2018 earnings per share estimates for Macerich in a report released on Wednesday. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the real estate investment trust will earn $1.22 per share for the quarter, up from their prior forecast of $1.13. Boenning Scattergood has a “Buy” rating and a $75.00 price objective on the stock.

A number of other equities analysts have also commented on the stock. Deutsche Bank reduced their target price on shares of Macerich from $65.00 to $62.00 and set a “hold” rating on the stock in a research report on Friday. Citigroup reduced their target price on shares of Macerich from $66.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday. Morgan Stanley reaffirmed a “hold” rating on shares of Macerich in a research report on Tuesday. BMO Capital Markets set a $62.00 target price on shares of Macerich and gave the stock a “hold” rating in a research report on Monday. Finally, Barclays reduced their target price on shares of Macerich from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. Macerich currently has a consensus rating of “Hold” and a consensus price target of $67.09.

Shares of Macerich (NYSE:MAC) traded up $0.99 during trading hours on Friday, hitting $59.35. 1,045,918 shares of the stock were exchanged, compared to its average volume of 2,181,014. The stock has a market capitalization of $8,473.12, a price-to-earnings ratio of 57.94, a PEG ratio of 2.86 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 current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30.

Macerich (NYSE:MAC) last issued its earnings results on Monday, February 5th. The real estate investment trust reported $1.03 EPS for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.11). The company had revenue of $245.30 million for 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 business’s revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business posted $1.17 earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors 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 4.99%. The ex-dividend date of this dividend is Tuesday, February 20th. Macerich’s payout ratio is 290.20%.

Hedge funds have recently modified their holdings of the stock. Miracle Mile Advisors LLC purchased a new position in Macerich during the fourth quarter valued at approximately $250,000. Meeder Asset Management Inc. purchased a new position in Macerich during the third quarter valued at approximately $216,000. Cowen Prime Services LLC purchased a new position in Macerich during the fourth quarter valued at approximately $263,000. Amica Pension Fund Board of Trustees purchased a new position in Macerich during the third quarter valued at approximately $229,000. Finally, Contravisory Investment Management Inc. purchased a new position in Macerich during the fourth quarter valued at approximately $312,000. 98.21% of the stock is currently 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.

Earnings History and Estimates for Macerich (NYSE:MAC)

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