Macerich Company (The) (NYSE:MAC) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $3.90-4.00 for the period, compared to the Thomson Reuters consensus estimate of $3.95.
Several analysts have weighed in on the stock. BidaskClub raised shares of Macerich Company (The) from a hold rating to a buy rating in a research note on Wednesday. Zacks Investment Research raised shares of Macerich Company (The) from a sell rating to a hold rating in a research note on Tuesday. Boenning Scattergood reissued a hold rating on shares of Macerich Company (The) in a research note on Friday, August 4th. Barclays PLC decreased their price target on shares of Macerich Company (The) to $61.00 and set an equal weight rating for the company in a research note on Tuesday, July 18th. Finally, Jefferies Group LLC reissued a hold rating and issued a $57.00 price target on shares of Macerich Company (The) in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Macerich Company (The) has a consensus rating of Hold and an average target price of $70.46.
Macerich Company (NYSE:MAC) traded down 2.02% during midday trading on Friday, hitting $56.72. 1,682,781 shares of the stock traded hands. The firm has a market cap of $8.02 billion, a P/E ratio of 55.77 and a beta of 0.77. The company’s 50-day moving average is $58.35 and its 200 day moving average is $62.09. Macerich Company has a 12-month low of $54.98 and a 12-month high of $84.79.
Macerich Company (The) (NYSE:MAC) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.04. Macerich Company (The) had a return on equity of 3.38% and a net margin of 14.39%. The firm had revenue of $247.20 million for the quarter, compared to analyst estimates of $218.62 million. During the same period last year, the company earned $1.02 earnings per share. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, analysts anticipate that Macerich Company will post $1.03 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Friday, August 18th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend is Wednesday, August 16th. Macerich Company (The)’s dividend payout ratio is presently 278.43%.
In other Macerich Company (The) news, CEO Arthur M. Coppola sold 100,000 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $58.13, for a total value of $5,813,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. 3.75% of the stock is owned by company insiders.
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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.
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