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

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

Macerich (NYSE:MAC) last issued its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.11). The business had revenue of $245.30 million for the quarter, compared to the consensus estimate of $237.90 million. Macerich had a return on equity of 3.91% and a net margin of 14.71%. Macerich’s revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 earnings per share.

Several other equities analysts have also recently weighed in on MAC. BMO Capital Markets set a $55.00 price target on shares of Macerich and gave the stock a “hold” rating in a research note on Monday, October 30th. Boenning Scattergood set a $75.00 price objective on Macerich and gave the company a “buy” rating in a report on Wednesday, November 1st. Royal Bank of Canada reissued a “buy” rating and issued a $66.00 price objective on shares of Macerich in a report on Thursday, November 2nd. Mizuho reissued a “hold” rating and issued a $60.00 price objective on shares of Macerich in a report on Friday, November 10th. Finally, Evercore ISI downgraded Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 price objective for the company. in a report on Monday, December 11th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. Macerich currently has a consensus rating of “Hold” and a consensus price target of $67.09.

Shares of Macerich (MAC) traded up $0.53 on Wednesday, hitting $61.36. 750,024 shares of the stock traded hands, compared to its average volume of 2,090,175. The company has a market cap of $8,558.99, a PE ratio of 59.64, a P/E/G ratio of 2.91 and a beta of 0.83. Macerich has a one year low of $52.12 and a one year high of $69.73. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.30.

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 is Tuesday, February 20th. Macerich’s dividend payout ratio is 290.20%.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Macerich by 3.7% during the 4th quarter. BlackRock Inc. now owns 11,422,384 shares of the real estate investment trust’s stock valued at $750,223,000 after purchasing an additional 412,265 shares during the last quarter. Cbre Clarion Securities LLC increased its position in shares of Macerich by 1,523.7% in the fourth 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 period. Bank of New York Mellon Corp grew its position in Macerich by 5.2% in the third 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 acquiring an additional 143,975 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Macerich by 2.5% in the third 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 acquiring an additional 49,918 shares during the last quarter. Finally, Third Point LLC bought a new position in Macerich in the third quarter valued at about $94,878,000. 98.27% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “FY2019 Earnings Estimate for Macerich Co Issued By Jefferies Group (MAC)” was originally posted by Markets Daily and is the property of of Markets Daily. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this news story can be viewed at https://www.themarketsdaily.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.

Latest News

Leave a Reply