Jefferies Group Comments on Macerich Co’s Q1 2018 Earnings (MAC)

Macerich Co (NYSE:MAC) – Investment analysts at Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for Macerich in a research report issued on Monday. Jefferies Group analyst O. Okusanya anticipates that the real estate investment trust will post earnings per share of $0.81 for the quarter. Jefferies Group also issued estimates for Macerich’s Q2 2018 earnings at $0.97 EPS, Q3 2018 earnings at $1.02 EPS, Q4 2018 earnings at $1.20 EPS, FY2018 earnings at $4.00 EPS, Q1 2019 earnings at $0.95 EPS, Q2 2019 earnings at $1.00 EPS, Q3 2019 earnings at $1.04 EPS, Q4 2019 earnings at $1.22 EPS and FY2020 earnings at $4.37 EPS.

A number of other analysts have also commented on the company. Deutsche Bank decreased their price objective on Macerich from $65.00 to $62.00 and set a “hold” rating on the stock in a research note on Friday. Citigroup decreased their price objective on Macerich from $66.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday. Boenning Scattergood reaffirmed a “buy” rating and set a $75.00 price objective on shares of Macerich in a research note on Wednesday, February 7th. Morgan Stanley reaffirmed a “hold” rating on shares of Macerich in a research note on Tuesday, February 6th. Finally, BMO Capital Markets set a $62.00 price objective on Macerich and gave the company a “hold” rating in a research note on Monday, February 5th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. Macerich currently has an average rating of “Hold” and a consensus target price of $67.09.

Shares of Macerich (NYSE MAC) opened at $60.80 on Tuesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.88. The company has a market capitalization of $8,504.09, a price-to-earnings ratio of 15.33, a P/E/G ratio of 2.88 and a beta of 0.83. Macerich has a 52 week low of $52.12 and a 52 week high of $69.73.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.11). The company had revenue of $245.30 million for the quarter, compared to analyst estimates of $237.90 million. Macerich had a net margin of 14.71% and a return on equity of 3.91%. The firm’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.17 EPS.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Macerich by 3.7% in the 4th quarter. BlackRock Inc. now owns 11,422,384 shares of the real estate investment trust’s stock worth $750,223,000 after buying an additional 412,265 shares during the last quarter. Cbre Clarion Securities LLC lifted its stake in shares of Macerich by 1,523.7% in the 4th quarter. Cbre Clarion Securities LLC now owns 3,205,186 shares of the real estate investment trust’s stock valued at $210,517,000 after purchasing an additional 3,007,786 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Macerich by 5.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,899,041 shares of the real estate investment trust’s stock valued at $159,359,000 after purchasing an additional 143,975 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Macerich by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,047,155 shares of the real estate investment trust’s stock valued at $112,533,000 after purchasing an additional 49,918 shares in the last quarter. Finally, Third Point LLC acquired a new position in shares of Macerich in the 3rd quarter valued at about $94,878,000. 98.27% of the stock is currently owned by hedge funds and other institutional investors.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Wednesday, February 21st will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend is Tuesday, February 20th. Macerich’s payout ratio is 290.20%.

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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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