Q4 2017 Earnings Estimate for Macerich Company (The) Issued By Jefferies Group (MAC)

Macerich Company (The) (NYSE:MAC) – Research analysts at Jefferies Group lowered their Q4 2017 earnings estimates for Macerich Company (The) in a research report issued to clients and investors on Monday. Jefferies Group analyst O. Okusanya now anticipates that the real estate investment trust will post earnings per share of $1.12 for the quarter, down from their prior forecast of $1.13. Jefferies Group has a “Hold” rating and a $57.00 price objective on the stock. Jefferies Group also issued estimates for Macerich Company (The)’s FY2018 earnings at $4.05 EPS.

A number of other analysts also recently issued reports on the stock. KeyCorp reaffirmed a “buy” rating and set a $75.00 price target on shares of Macerich Company (The) in a report on Monday, August 28th. BidaskClub raised shares of Macerich Company (The) from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. BMO Capital Markets initiated coverage on shares of Macerich Company (The) in a report on Monday, September 11th. They set a “market perform” rating and a $55.00 price target on the stock. Boenning Scattergood set a $75.00 price target on shares of Macerich Company (The) and gave the company a “buy” rating in a report on Wednesday, November 1st. Finally, J P Morgan Chase & Co raised shares of Macerich Company (The) from a “neutral” rating to an “overweight” rating and set a $68.00 price target on the stock in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $66.80.

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Shares of Macerich Company (MAC) traded down $0.16 during midday trading on Tuesday, hitting $64.60. 1,386,100 shares of the stock were exchanged, compared to its average volume of 1,457,502. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $9,116.45, a P/E ratio of 16.27, a PEG ratio of 3.00 and a beta of 0.80. Macerich Company has a 12-month low of $52.12 and a 12-month high of $73.34.

Macerich Company (The) (NYSE:MAC) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.86). The firm had revenue of $242.50 million for the quarter, compared to the consensus estimate of $226.00 million. Macerich Company (The) had a net margin of 14.92% and a return on equity of 3.56%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.04 earnings per share.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eii Capital Management Inc. raised its stake in Macerich Company (The) by 206.0% during the 3rd quarter. Eii Capital Management Inc. now owns 51,714 shares of the real estate investment trust’s stock worth $2,843,000 after acquiring an additional 34,814 shares during the period. California Public Employees Retirement System raised its stake in Macerich Company (The) by 6.3% during the 3rd quarter. California Public Employees Retirement System now owns 373,379 shares of the real estate investment trust’s stock worth $20,525,000 after acquiring an additional 21,975 shares during the period. Valeo Financial Advisors LLC bought a new stake in Macerich Company (The) during the 3rd quarter worth approximately $621,000. Cubist Systematic Strategies LLC raised its stake in Macerich Company (The) by 60.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 10,577 shares of the real estate investment trust’s stock worth $581,000 after acquiring an additional 4,001 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Macerich Company (The) by 58.5% during the 3rd quarter. Janus Henderson Group PLC now owns 38,750 shares of the real estate investment trust’s stock worth $2,130,000 after acquiring an additional 14,305 shares during the period. Institutional investors own 97.59% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be issued a $0.74 dividend. This is an increase from Macerich Company (The)’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, November 9th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.58%. Macerich Company (The)’s dividend payout ratio (DPR) is presently 281.91%.

About Macerich Company (The)

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 Company (The) (NYSE:MAC)

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