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.
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.
COPYRIGHT VIOLATION NOTICE: “Q4 2018 EPS Estimates for Macerich Co (MAC) Lifted by Analyst” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.americanbankingnews.com/2018/02/09/q4-2018-eps-estimates-for-macerich-co-mac-lifted-by-analyst.html.
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.
Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with MarketBeat.com's FREE daily email newsletter.