Macerich Company (The) (MAC) Expected to Post FY2017 Earnings of $4.22 Per Share

Macerich Company (The) (MAC) Expected to Post FY2017 Earnings of $4.22 Per Share

Macerich Company (The) (NYSE:MAC) – Equities researchers at Jefferies Group decreased their FY2017 earnings per share estimates for shares of Macerich Company (The) in a report released on Monday. Jefferies Group analyst O. Okusanya now expects that the firm will earn $4.22 per share for the year, down from their previous forecast of $4.28.

MAC has been the subject of a number of other reports. Zacks Investment Research upgraded Macerich Company (The) from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Wednesday, October 5th. Mizuho reiterated a “buy” rating on shares of Macerich Company (The) in a research report on Friday, December 23rd. Deutsche Bank AG lifted their target price on Macerich Company (The) from $84.00 to $87.00 and gave the stock a “hold” rating in a research report on Tuesday, October 4th. KeyCorp upgraded Macerich Company (The) to an “overweight” rating in a research report on Wednesday, December 21st. Finally, BMO Capital Markets set a $75.00 target price on Macerich Company (The) and gave the stock a “hold” rating in a research report on Thursday, January 12th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $81.92.

Shares of Macerich Company (NYSE:MAC) traded down 0.95% during mid-day trading on Wednesday, reaching $69.17. 35,728 shares of the company traded hands. The firm has a 50 day moving average of $70.06 and a 200-day moving average of $76.79. Macerich Company has a 52 week low of $66.00 and a 52 week high of $94.51. The stock has a market capitalization of $9.94 billion, a PE ratio of 11.59 and a beta of 0.82.

Macerich Company (The) (NYSE:MAC) last announced its quarterly earnings data on Thursday, October 27th. The real estate investment trust reported $1.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.04. Macerich Company (The) had a net margin of 82.09% and a return on equity of 18.73%. The company had revenue of $253.37 million for the quarter, compared to the consensus estimate of $257.87 million. During the same period in the prior year, the firm posted $1.01 EPS. Macerich Company (The)’s revenue for the quarter was down 22.3% on a year-over-year basis.

In related news, Vice Chairman Dana K. Anderson bought 10,000 shares of the business’s stock in a transaction on Wednesday, November 9th. The shares were bought at an average price of $67.78 per share, for a total transaction of $677,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert D. Perlmutter sold 1,500 shares of Macerich Company (The) stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $70.79, for a total value of $106,185.00. The disclosure for this sale can be found here. Insiders sold 8,000 shares of company stock valued at $561,185 over the last 90 days. 3.54% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Tradition Capital Management LLC bought a new position in Macerich Company (The) during the second quarter valued at about $1,379,000. Morgan Stanley raised its position in Macerich Company (The) by 3.4% in the third quarter. Morgan Stanley now owns 3,314,431 shares of the real estate investment trust’s stock valued at $268,038,000 after buying an additional 109,652 shares during the period. Advantus Capital Management Inc raised its position in Macerich Company (The) by 5.8% in the second quarter. Advantus Capital Management Inc now owns 282,097 shares of the real estate investment trust’s stock valued at $24,088,000 after buying an additional 15,454 shares during the period. Capital Fund Management S.A. bought a new position in Macerich Company (The) during the second quarter valued at about $13,005,000. Finally, Advisor Group Inc. raised its position in Macerich Company (The) by 281.6% in the third quarter. Advisor Group Inc. now owns 2,213 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 1,633 shares during the period. Institutional investors own 92.79% of the company’s stock.

About Macerich Company (The)

The Macerich Company is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. It owns 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers.

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