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.
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.
WARNING: “KeyCorp Comments on Macerich Co’s FY2017 Earnings (MAC)” was first posted by Community Financial News and is owned by of Community Financial News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of US and international copyright and trademark laws. The original version of this article can be viewed at https://www.com-unik.info/2017/12/25/keycorp-comments-on-macerich-cos-fy2017-earnings-mac.html.
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.
Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with MarketBeat.com's FREE daily email newsletter.