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

Several other equities research analysts also recently commented on the company. Mizuho restated a “hold” rating and set a $60.00 price objective on shares of Macerich Company (The) in a report on Friday, November 10th. Royal Bank Of Canada restated a “buy” rating and set a $66.00 price objective on shares of Macerich Company (The) in a report on Thursday, November 2nd. Boenning Scattergood set a $75.00 price objective on Macerich Company (The) and gave the company a “buy” rating in a report on Wednesday, November 1st. BMO Capital Markets set a $55.00 price objective on Macerich Company (The) and gave the company a “hold” rating in a report on Monday, October 30th. Finally, KeyCorp restated a “buy” rating and set a $75.00 price objective on shares of Macerich Company (The) in a report on Thursday, September 28th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $66.80.

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Shares of Macerich Company (MAC) opened at $64.76 on Tuesday. The company has a market capitalization of $9,019.32, a P/E ratio of 16.10, a PEG ratio of 3.02 and a beta of 0.80. Macerich Company has a 1-year low of $52.12 and a 1-year high of $73.34. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.25.

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

Institutional investors have recently made changes to their positions in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Macerich Company (The) by 33.7% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 35,862 shares of the real estate investment trust’s stock worth $2,082,000 after buying an additional 9,044 shares in the last quarter. Apollo Management Holdings L.P. bought a new position in Macerich Company (The) in the 2nd quarter valued at $3,039,000. Kempen Capital Management N.V. grew its stake in Macerich Company (The) by 45.2% in the 2nd quarter. Kempen Capital Management N.V. now owns 83,913 shares of the real estate investment trust’s stock valued at $4,871,000 after purchasing an additional 26,139 shares during the period. Toronto Dominion Bank grew its stake in Macerich Company (The) by 23.8% in the 2nd quarter. Toronto Dominion Bank now owns 40,383 shares of the real estate investment trust’s stock valued at $2,344,000 after purchasing an additional 7,751 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in Macerich Company (The) by 10.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,017,873 shares of the real estate investment trust’s stock valued at $59,098,000 after purchasing an additional 98,499 shares during the period. Institutional investors and hedge funds own 97.59% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.96 annualized dividend and a yield of 4.57%. This is an increase from Macerich Company (The)’s previous quarterly dividend of $0.71. Macerich Company (The)’s dividend payout ratio is 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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