FY2019 Earnings Estimate for Macerich Co Issued By Jefferies Group (MAC)

Macerich Co (NYSE:MAC) – Research analysts at Jefferies Group lifted their FY2019 EPS estimates for shares of Macerich in a report released on Monday. Jefferies Group analyst O. Okusanya now anticipates that the real estate investment trust will post earnings of $4.21 per share for the year, up from their previous forecast of $4.16.

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

A number of other research firms also recently issued reports on MAC. BMO Capital Markets set a $62.00 target price on shares of Macerich and gave the company a “hold” rating in a research report on Monday, February 5th. Evercore ISI cut Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 price target for the company. in a research note on Monday, December 11th. Zacks Investment Research cut Macerich from a “hold” rating to a “sell” rating in a research note on Monday, January 15th. Royal Bank of Canada cut Macerich from an “outperform” rating to a “sector perform” rating and set a $66.00 price target for the company. in a research note on Wednesday, January 3rd. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of Macerich in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. Macerich presently has a consensus rating of “Hold” and a consensus target price of $67.09.

Macerich (MAC) traded up $0.53 during trading on Wednesday, reaching $61.36. 750,024 shares of the company’s stock were exchanged, compared to its average volume of 2,090,175. 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 has a 52 week low of $52.12 and a 52 week high of $69.73. The firm has a market cap of $8,558.99, a P/E ratio of 59.64, a PEG ratio of 2.91 and a beta of 0.83.

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 issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Tuesday, February 20th. Macerich’s dividend payout ratio is 290.20%.

Institutional investors have recently made changes to their positions in the business. Sentry Investment Management LLC increased its position in Macerich by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 9,690 shares of the real estate investment trust’s stock worth $563,000 after buying an additional 102 shares during the period. Public Employees Retirement Association of Colorado increased its position in Macerich by 3.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 24,163 shares of the real estate investment trust’s stock worth $1,587,000 after buying an additional 871 shares during the period. DnB Asset Management AS increased its position in Macerich by 7.7% during the 4th quarter. DnB Asset Management AS now owns 12,595 shares of the real estate investment trust’s stock worth $827,000 after buying an additional 900 shares during the period. PNC Financial Services Group Inc. increased its position in Macerich by 19.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,807 shares of the real estate investment trust’s stock worth $337,000 after buying an additional 934 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in Macerich by 8.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 15,434 shares of the real estate investment trust’s stock worth $1,014,000 after buying an additional 1,166 shares during the period. 98.27% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This story was posted by American Banking News and is the property of of American Banking News. If you are reading this story on another website, it was illegally copied and republished in violation of US and international copyright and trademark laws. The original version of this story can be accessed at https://www.americanbankingnews.com/2018/02/14/fy2019-earnings-estimate-for-macerich-co-issued-by-jefferies-group-mac.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.

Earnings History and Estimates for Macerich (NYSE:MAC)

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.

Leave a Reply