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.
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.
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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.
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