Q3 2017 EPS Estimates for Macerich Company (The) (MAC) Lowered by Analyst

Macerich Company (The) (NYSE:MAC) – Investment analysts at SunTrust Banks dropped their Q3 2017 earnings estimates for Macerich Company (The) in a report released on Monday. SunTrust Banks analyst K. Kim now expects that the real estate investment trust will post earnings per share of $1.02 for the quarter, down from their previous forecast of $1.03. SunTrust Banks also issued estimates for Macerich Company (The)’s FY2017 earnings at $3.96 EPS, FY2019 earnings at $5.19 EPS, FY2020 earnings at $5.28 EPS and FY2021 earnings at $5.36 EPS.

Macerich Company (The) (NYSE:MAC) last posted its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $219.90 million for the quarter, compared to analyst estimates of $222.65 million. Macerich Company (The) had a net margin of 16.01% and a return on equity of 3.72%. Macerich Company (The)’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 earnings per share. TRADEMARK VIOLATION NOTICE: This article was first published by WKRB News and is owned by of WKRB News. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of international copyright law. The original version of this article can be read at https://www.wkrb13.com/markets/2229482/q3-2017-eps-estimates-for-macerich-company-the-mac-lowered-by-analyst.html.

Earnings History and Estimates for Macerich Company (The) (NYSE:MAC)

A number of other research analysts also recently issued reports on the stock. ValuEngine downgraded shares of Macerich Company (The) from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Mizuho downgraded shares of Macerich Company (The) from a “buy” rating to a “neutral” rating and cut their price objective for the company from $84.00 to $63.00 in a research report on Tuesday, May 30th. Citigroup Inc. reiterated a “neutral” rating on shares of Macerich Company (The) in a research report on Thursday, May 11th. Barclays PLC cut their price objective on shares of Macerich Company (The) from $66.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 19th. Finally, Zacks Investment Research upgraded shares of Macerich Company (The) from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. Macerich Company (The) currently has an average rating of “Hold” and an average price target of $73.71.

Macerich Company (NYSE:MAC) opened at 57.77 on Thursday. Macerich Company has a 1-year low of $56.06 and a 1-year high of $94.51. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 50.68 and a beta of 0.78. The firm has a 50-day moving average of $59.26 and a 200-day moving average of $65.25.

The company also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Friday, May 5th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend was Wednesday, May 3rd. Macerich Company (The)’s payout ratio is 249.12%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tyers Asset Management LLC bought a new stake in Macerich Company (The) during the fourth quarter valued at approximately $294,000. Chilton Capital Management LLC boosted its stake in Macerich Company (The) by 7.1% in the fourth quarter. Chilton Capital Management LLC now owns 136,125 shares of the real estate investment trust’s stock valued at $9,643,000 after buying an additional 9,066 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Macerich Company (The) by 112.8% in the fourth quarter. Renaissance Technologies LLC now owns 631,119 shares of the real estate investment trust’s stock valued at $44,708,000 after buying an additional 334,500 shares in the last quarter. Pacad Investment Ltd. boosted its stake in Macerich Company (The) by 1,700.0% in the fourth quarter. Pacad Investment Ltd. now owns 3,600 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 3,400 shares in the last quarter. Finally, Credit Agricole S A boosted its stake in Macerich Company (The) by 21.9% in the fourth quarter. Credit Agricole S A now owns 131,043 shares of the real estate investment trust’s stock valued at $9,283,000 after buying an additional 23,564 shares in the last quarter. Institutional investors own 98.76% of the company’s stock.

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.

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2229482/q3-2017-eps-estimates-for-macerich-company-the-mac-lowered-by-analyst.html

Receive News & Ratings for Macerich Company (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich Company (The) and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.