Macerich (NYSE:MAC) issued its quarterly earnings results on Monday. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.11), Bloomberg Earnings reports. Macerich had a return on equity of 3.56% and a net margin of 14.92%. The company had revenue of $245.30 million for the quarter, compared to analysts’ expectations of $237.90 million. During the same quarter in the previous year, the business earned $1.17 EPS. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. Macerich updated its FY18 guidance to $3.92-4.02 EPS.
Macerich (NYSE:MAC) opened at $59.73 on Tuesday. Macerich has a one year low of $52.12 and a one year high of $69.73. The firm has a market cap of $8,651.90, a P/E ratio of 15.44, a P/E/G ratio of 2.87 and a beta of 0.83. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Wednesday, February 21st will be paid a $0.74 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.96 dividend on an annualized basis and a yield of 4.96%. Macerich’s dividend payout ratio is 281.91%.
Several equities research analysts have recently issued reports on the stock. Wells Fargo & Co upgraded shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 price target for the company in a research note on Tuesday, December 19th. BMO Capital Markets set a $55.00 price target on shares of Macerich and gave the stock a “hold” rating in a research note on Monday, October 30th. Barclays decreased their price target on shares of Macerich from $62.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 30th. Sandler O’Neill restated a “hold” rating and set a $71.00 price target on shares of Macerich in a research note on Tuesday, January 23rd. Finally, Royal Bank of Canada restated a “buy” rating and set a $66.00 price target on shares of Macerich in a research note on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $67.42.
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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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