KeyCorp Comments on Macerich Co’s FY2017 Earnings (MAC)

Macerich Co (NYSE:MAC) – Research analysts at KeyCorp decreased their FY2017 earnings per share estimates for shares of Macerich in a research note issued on Wednesday. KeyCorp analyst T. Thomas now forecasts that the real estate investment trust will earn $3.94 per share for the year, down from their previous estimate of $3.95. KeyCorp currently has a “Buy” rating and a $75.00 target price on the stock. KeyCorp also issued estimates for Macerich’s Q4 2017 earnings at $1.15 EPS.

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

A number of other equities research analysts have also recently commented on MAC. Wells Fargo & Co raised shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 target price for the company in a report on Tuesday, December 19th. Evercore ISI cut shares of Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 target price for the company. in a report on Monday, December 11th. Mizuho reaffirmed a “hold” rating and issued a $60.00 target price on shares of Macerich in a report on Friday, November 10th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $66.00 target price on shares of Macerich in a report on Thursday, November 2nd. Finally, Boenning Scattergood set a $75.00 target price on shares of Macerich and gave the company a “buy” rating in a report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $66.85.

Shares of Macerich (MAC) opened at $65.20 on Monday. Macerich has a 1 year low of $52.12 and a 1 year high of $73.34. The firm has a market cap of $9,220.00, a price-to-earnings ratio of 62.10, a P/E/G ratio of 3.11 and a beta of 0.87. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.25.

The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were given a dividend of $0.74 per share. This is a positive change from Macerich’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Thursday, November 9th. Macerich’s dividend payout ratio is presently 281.90%.

Hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in shares of Macerich by 7.9% during the second quarter. Pacer Advisors Inc. now owns 2,774 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 203 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Macerich during the third quarter valued at approximately $216,000. Sun Life Financial INC lifted its stake in shares of Macerich by 1,864.0% during the second quarter. Sun Life Financial INC now owns 3,928 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 3,728 shares during the period. Amica Pension Fund Board of Trustees purchased a new position in shares of Macerich during the third quarter valued at approximately $229,000. Finally, Riverhead Capital Management LLC lifted its stake in shares of Macerich by 11.8% during the second quarter. Riverhead Capital Management LLC now owns 4,111 shares of the real estate investment trust’s stock valued at $239,000 after buying an additional 435 shares during the period. Institutional investors and hedge funds own 97.58% of the company’s stock.

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Macerich 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 (NYSE:MAC)

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