Macerich Co (NYSE:MAC) – Equities researchers at Jefferies Group reduced their FY2018 EPS estimates for shares of Macerich in a research note issued on Tuesday. Jefferies Group analyst O. Okusanya now forecasts that the real estate investment trust will earn $4.02 per share for the year, down from their prior forecast of $4.03. Jefferies Group has a “Hold” rating and a $57.00 price target on the stock. Jefferies Group also issued estimates for Macerich’s FY2019 earnings at $4.16 EPS.

Macerich (NYSE:MAC) last released its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.86). Macerich had a net margin of 14.92% and a return on equity of 3.56%. The firm had revenue of $242.50 million during the quarter, compared to the consensus estimate of $226.00 million. During the same period in the prior year, the business earned $1.04 EPS. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year.

A number of other equities analysts have also commented on the stock. Wells Fargo & Co raised shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 price target on the stock in a research report on Tuesday, December 19th. Evercore ISI lowered shares of Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 price target on the stock. in a research report on Monday, December 11th. Boenning Scattergood set a $75.00 price target on shares of Macerich and gave the company a “buy” rating in a research report on Wednesday, November 1st. Mizuho reissued a “hold” rating and issued a $60.00 price target on shares of Macerich in a research report on Friday, November 10th. Finally, BMO Capital Markets set a $55.00 price target on shares of Macerich and gave the company a “hold” rating in a research report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. Macerich has an average rating of “Hold” and an average price target of $66.85.

Macerich (NYSE:MAC) traded up $1.46 during trading hours on Wednesday, hitting $63.02. 1,293,400 shares of the stock were exchanged, compared to its average volume of 1,640,227. Macerich has a 12 month low of $52.12 and a 12 month high of $70.96. The company has a market capitalization of $8,890.00, a price-to-earnings ratio of 60.02, a price-to-earnings-growth ratio of 2.87 and a beta of 0.87. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.85 and a current ratio of 0.85.

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in shares of Macerich 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 acquiring an additional 143,975 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Macerich by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,047,155 shares of the real estate investment trust’s stock worth $112,533,000 after acquiring an additional 49,918 shares during the last quarter. Third Point LLC acquired a new stake in shares of Macerich in the third quarter worth $94,878,000. Canada Pension Plan Investment Board grew its stake in shares of Macerich by 39.4% in the third quarter. Canada Pension Plan Investment Board now owns 1,252,483 shares of the real estate investment trust’s stock worth $68,849,000 after acquiring an additional 353,900 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Macerich by 6.3% in the third quarter. Legal & General Group Plc now owns 1,224,305 shares of the real estate investment trust’s stock worth $67,301,000 after acquiring an additional 72,046 shares during the last quarter. Institutional investors and hedge funds own 97.57% 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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