Macerich Co (NYSE:MAC) – Analysts at KeyCorp issued their Q1 2019 earnings estimates for shares of Macerich in a research note issued on Sunday, February 10th. KeyCorp analyst T. Thomas forecasts that the real estate investment trust will post earnings of $0.83 per share for the quarter. KeyCorp also issued estimates for Macerich’s Q2 2019 earnings at $0.85 EPS, Q3 2019 earnings at $0.89 EPS, Q4 2019 earnings at $1.00 EPS, FY2019 earnings at $3.57 EPS, Q1 2020 earnings at $0.85 EPS, Q2 2020 earnings at $0.87 EPS, Q3 2020 earnings at $0.93 EPS, Q4 2020 earnings at $1.05 EPS, FY2020 earnings at $3.69 EPS and FY2021 earnings at $3.83 EPS.
Macerich (NYSE:MAC) last announced its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.09. Macerich had a return on equity of 2.41% and a net margin of 6.25%. The firm had revenue of $246.90 million for the quarter, compared to analysts’ expectations of $228.64 million. During the same period last year, the business posted $1.03 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis.
Shares of NYSE MAC opened at $44.22 on Tuesday. Macerich has a 1-year low of $40.90 and a 1-year high of $61.91. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 2.41 and a beta of 0.92.
Several institutional investors and hedge funds have recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Macerich by 1.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 17,376 shares of the real estate investment trust’s stock valued at $752,000 after purchasing an additional 302 shares during the period. Alps Advisors Inc. increased its holdings in shares of Macerich by 1.5% during the fourth quarter. Alps Advisors Inc. now owns 22,078 shares of the real estate investment trust’s stock valued at $956,000 after purchasing an additional 333 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Macerich by 1.1% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 32,220 shares of the real estate investment trust’s stock valued at $1,405,000 after purchasing an additional 356 shares during the period. First Trust Advisors LP increased its holdings in shares of Macerich by 3.8% during the fourth quarter. First Trust Advisors LP now owns 20,880 shares of the real estate investment trust’s stock valued at $904,000 after purchasing an additional 773 shares during the period. Finally, Eaton Vance Management increased its holdings in shares of Macerich by 15.6% during the fourth quarter. Eaton Vance Management now owns 6,143 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 828 shares during the period. 98.53% of the stock is currently owned by institutional investors.
In other news, CEO Arthur M. Coppola sold 105,574 shares of the firm’s stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $49.79, for a total transaction of $5,256,529.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Hirsch purchased 4,500 shares of the stock in a transaction dated Tuesday, December 18th. The shares were acquired at an average cost of $44.63 per share, for a total transaction of $200,835.00. The disclosure for this purchase can be found here. 3.76% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 21st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date is Wednesday, February 20th. Macerich’s dividend payout ratio (DPR) is 77.92%.
Macerich Company Profile
Macerich, an S&P 500 company, is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.
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