Macerich Co (NYSE:MAC) – Investment analysts at KeyCorp cut their Q1 2018 EPS estimates for shares of Macerich in a research report issued on Sunday. KeyCorp analyst T. Thomas now anticipates that the real estate investment trust will earn $0.83 per share for the quarter, down from their prior estimate of $0.93. KeyCorp also issued estimates for Macerich’s Q2 2018 earnings at $0.99 EPS, Q3 2018 earnings at $1.00 EPS, Q4 2018 earnings at $1.14 EPS, FY2018 earnings at $3.96 EPS and FY2019 earnings at $4.12 EPS.
Other research analysts have also issued research reports about the company. Morgan Stanley reiterated a “hold” rating on shares of Macerich in a report on Tuesday, February 6th. Sandler O’Neill reiterated a “hold” rating and set a $71.00 price target on shares of Macerich in a report on Tuesday, January 23rd. Mizuho reiterated a “hold” rating and set a $60.00 price target on shares of Macerich in a report on Friday, November 10th. Barclays reduced their price target on Macerich from $62.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 30th. Finally, BMO Capital Markets set a $55.00 price target on Macerich and gave the stock a “hold” rating in a report on Monday, October 30th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $67.09.
Macerich (NYSE:MAC) last posted its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $1.03 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.11). Macerich had a return on equity of 3.91% and a net margin of 14.71%. The company had revenue of $245.30 million for the quarter, compared to analysts’ expectations of $237.90 million. During the same quarter in the prior year, the firm earned $1.17 EPS. The firm’s revenue was down 6.2% on a year-over-year basis.
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 given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date is Tuesday, February 20th. Macerich’s payout ratio is 290.20%.
Several large investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP acquired a new stake in shares of Macerich during the 4th quarter worth about $6,345,000. Cbre Clarion Securities LLC increased its position in shares of Macerich by 1,523.7% during the 4th quarter. Cbre Clarion Securities LLC now owns 3,205,186 shares of the real estate investment trust’s stock worth $210,517,000 after purchasing an additional 3,007,786 shares during the last quarter. American International Group Inc. increased its position in shares of Macerich by 15.2% during the 4th quarter. American International Group Inc. now owns 39,834 shares of the real estate investment trust’s stock worth $2,616,000 after purchasing an additional 5,243 shares during the last quarter. Employees Retirement System of Texas increased its position in shares of Macerich by 16.3% during the 4th quarter. Employees Retirement System of Texas now owns 114,100 shares of the real estate investment trust’s stock worth $7,494,000 after purchasing an additional 16,000 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its position in shares of Macerich by 12.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 12,716 shares of the real estate investment trust’s stock worth $835,000 after purchasing an additional 1,414 shares during the last quarter. 98.27% of the stock is owned by hedge funds and other institutional investors.
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.