Macerich Company (The) (NYSE:MAC) – Equities research analysts at Boenning Scattergood lowered their FY2017 earnings estimates for shares of Macerich Company (The) in a research report issued to clients and investors on Wednesday. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the real estate investment trust will earn $3.95 per share for the year, down from their previous forecast of $3.98. Boenning Scattergood currently has a “Buy” rating and a $75.00 price target on the stock. Boenning Scattergood also issued estimates for Macerich Company (The)’s Q1 2018 earnings at $0.98 EPS, Q2 2018 earnings at $1.00 EPS and Q3 2018 earnings at $1.02 EPS.

Macerich Company (The) (NYSE:MAC) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the 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 business earned $1.04 earnings per share. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. WARNING: This piece of content was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another website, it was stolen and reposted in violation of United States and international copyright & trademark laws. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2017/11/08/macerich-company-the-to-post-fy2017-earnings-of-3-95-per-share-boenning-scattergood-forecasts-mac.html.

A number of other brokerages have also commented on MAC. KeyCorp reissued a “buy” rating and set a $75.00 price target on shares of Macerich Company (The) in a research note on Monday, August 28th. Zacks Investment Research lowered Macerich Company (The) from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Jefferies Group LLC reissued a “hold” rating and set a $57.00 price target on shares of Macerich Company (The) in a research note on Tuesday, September 26th. Citigroup Inc. cut their price target on Macerich Company (The) from $66.00 to $61.00 and set a “neutral” rating on the stock in a research note on Monday, August 14th. Finally, BidaskClub lowered Macerich Company (The) from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $67.00.

Shares of Macerich Company (NYSE MAC) opened at $58.76 on Monday. Macerich Company has a 12 month low of $52.12 and a 12 month high of $73.34. The company has a market capitalization of $7,628.48, a PE ratio of 13.62, a PEG ratio of 2.56 and a beta of 0.80. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.85.

Several institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in shares of Macerich Company (The) by 29.2% during the third quarter. Russell Investments Group Ltd. now owns 839,463 shares of the real estate investment trust’s stock worth $46,146,000 after acquiring an additional 189,938 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Macerich Company (The) 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 worth $159,359,000 after purchasing an additional 143,975 shares in the last quarter. TCW Group Inc. increased its holdings in Macerich Company (The) by 19.8% in the third quarter. TCW Group Inc. now owns 286,032 shares of the real estate investment trust’s stock worth $15,723,000 after purchasing an additional 47,216 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Macerich Company (The) in the third quarter worth approximately $1,096,000. Finally, Rhumbline Advisers increased its holdings in Macerich Company (The) by 0.6% in the third quarter. Rhumbline Advisers now owns 285,462 shares of the real estate investment trust’s stock worth $15,692,000 after purchasing an additional 1,675 shares in the last quarter. Institutional investors own 91.33% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.04%. This is an increase from Macerich Company (The)’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, November 9th. Macerich Company (The)’s dividend payout ratio (DPR) is 270.48%.

Macerich Company (The) 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 Company (The) (NYSE:MAC)

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