Q1 2017 EPS Estimates for Macerich Co Reduced by Analyst (MAC)

Macerich Co (NYSE:MAC) – Stock analysts at Boenning Scattergood lowered their Q1 2017 earnings estimates for Macerich in a report issued on Wednesday. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the firm will post earnings per share of $0.97 for the quarter, down from their prior forecast of $1.05. Boenning Scattergood also issued estimates for Macerich’s Q2 2017 earnings at $0.96 EPS, Q3 2017 earnings at $0.95 EPS, FY2017 earnings at $3.98 EPS, Q2 2018 earnings at $0.97 EPS, Q3 2018 earnings at $1.00 EPS and FY2018 earnings at $4.07 EPS.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Monday, February 6th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.01. Macerich had a return on equity of 11.24% and a net margin of 49.65%. During the same quarter in the previous year, the company earned $2.65 EPS. COPYRIGHT VIOLATION NOTICE: This piece was first reported by sleekmoney and is the sole property of of sleekmoney. If you are reading this piece on another domain, it was stolen and reposted in violation of US & international trademark and copyright legislation. The correct version of this piece can be viewed at http://sleekmoney.com/q1-2017-eps-estimates-for-macerich-co-reduced-by-analyst-mac/1656348.html.

Earnings History and Estimates for Macerich (NYSE:MAC)

Several other equities analysts have also weighed in on MAC. BMO Capital Markets set a $75.00 target price on Macerich and gave the company a “hold” rating in a report on Thursday, January 12th. Zacks Investment Research lowered Macerich from a “hold” rating to a “sell” rating in a report on Thursday, January 12th. KeyCorp upgraded Macerich to an “overweight” rating in a report on Wednesday, December 21st. Barclays PLC cut their target price on Macerich from $83.00 to $69.00 and set an “equal weight” rating on the stock in a report on Monday, January 23rd. Finally, Canaccord Genuity cut their target price on Macerich from $84.00 to $77.00 and set a “hold” rating on the stock in a report on Monday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $80.23.

Shares of Macerich (NYSE:MAC) opened at 68.37 on Friday. The firm’s 50-day moving average price is $69.53 and its 200 day moving average price is $75.17. The firm has a market cap of $9.84 billion, a PE ratio of 19.42 and a beta of 0.79. Macerich has a 52 week low of $66.00 and a 52 week high of $94.51.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 3rd. Shareholders of record on Tuesday, February 21st will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Thursday, February 16th. Macerich’s payout ratio is 83.04%.

In other Macerich news, EVP Robert D. Perlmutter sold 1,500 shares of Macerich stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $70.79, for a total transaction of $106,185.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Hern Thomas E. O sold 5,000 shares of Macerich stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the sale, the executive vice president now directly owns 55,077 shares in the company, valued at $3,855,390. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by insiders.

COPYRIGHT VIOLATION NOTICE: This piece was first reported by sleekmoney and is the sole property of of sleekmoney. If you are reading this piece on another domain, it was stolen and reposted in violation of US & international trademark and copyright legislation. The correct version of this piece can be viewed at http://sleekmoney.com/q1-2017-eps-estimates-for-macerich-co-reduced-by-analyst-mac/1656348.html.

A number of large investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan increased its stake in Macerich by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,990 shares of the real estate investment trust’s stock worth $323,000 after buying an additional 10 shares during the last quarter. Great Lakes Advisors LLC increased its stake in Macerich by 0.7% in the third quarter. Great Lakes Advisors LLC now owns 3,635 shares of the real estate investment trust’s stock worth $294,000 after buying an additional 26 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Macerich by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,921 shares of the real estate investment trust’s stock worth $490,000 after buying an additional 31 shares during the last quarter. GAM Holding AG increased its stake in Macerich by 0.8% in the third quarter. GAM Holding AG now owns 10,937 shares of the real estate investment trust’s stock worth $884,000 after buying an additional 92 shares during the last quarter. Finally, Utah Retirement Systems increased its stake in Macerich by 0.3% in the third quarter. Utah Retirement Systems now owns 31,623 shares of the real estate investment trust’s stock worth $2,557,000 after buying an additional 100 shares during the last quarter. 92.55% of the stock is currently owned by institutional investors.

Macerich Company Profile

The Macerich 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. It owns 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers.

5 Day Chart for NYSE:MAC

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. 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 http://sleekmoney.com/q1-2017-eps-estimates-for-macerich-co-reduced-by-analyst-mac/1656348.html

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