Macerich (NYSE:MAC) issued an update on its FY18 earnings guidance on Monday morning. The company provided earnings per share guidance of $3.92-4.02 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.07.
Shares of Macerich (NYSE MAC) traded down $1.73 on Monday, reaching $59.73. The company had a trading volume of 2,740,603 shares, compared to its average volume of 2,219,373. Macerich has a 1 year low of $52.12 and a 1 year high of $69.73. 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 company has a market capitalization of $8,651.90, a price-to-earnings ratio of 57.94, a price-to-earnings-growth ratio of 2.87 and a beta of 0.83.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Wednesday, February 21st will be paid a dividend of $0.74 per share. The ex-dividend date is Tuesday, February 20th. This represents a $2.96 annualized dividend and a yield of 4.96%. Macerich’s dividend payout ratio is 281.91%.
MAC has been the topic of several research reports. Wells Fargo & Co upgraded Macerich from a market perform rating to an outperform rating and set a $72.50 price target on the stock in a research note on Tuesday, December 19th. Evercore ISI lowered Macerich from an in-line rating to an underperform rating and set a $62.00 price target on the stock. in a research note on Monday, December 11th. Boenning Scattergood set a $75.00 price target on Macerich and gave the company a buy rating in a research note on Wednesday, November 1st. Mizuho restated a hold rating and set a $60.00 price target on shares of Macerich in a research note on Friday, November 10th. Finally, Zacks Investment Research lowered Macerich from a hold rating to a sell rating in a research note on Monday, January 15th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $67.03.
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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.
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