Macerich (NYSE:MAC) – Equities researchers at Jefferies Group cut their FY2019 earnings estimates for Macerich in a report released on Thursday, April 12th. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will post earnings per share of $4.13 for the year, down from their previous forecast of $4.21.
MAC has been the topic of a number of other reports. Zacks Investment Research raised Macerich from a “sell” rating to a “hold” rating in a report on Tuesday, March 20th. Deutsche Bank decreased their target price on Macerich from $65.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, February 9th. Wells Fargo raised Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 target price on the stock in a report on Tuesday, December 19th. JPMorgan Chase downgraded Macerich from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $70.00 to $65.00 in a research note on Tuesday, March 27th. Finally, Royal Bank of Canada downgraded Macerich from an “outperform” rating to a “sector perform” rating and set a $66.00 price target for the company. in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. Macerich has a consensus rating of “Hold” and a consensus target price of $64.83.
Macerich (NYSE:MAC) last posted its earnings results on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.11). The business had revenue of $245.30 million for the quarter, compared to analyst estimates of $237.90 million. Macerich had a return on equity of 3.91% and a net margin of 14.71%. The firm’s revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 earnings per share.
Large investors have recently added to or reduced their stakes in the company. Delpha Capital Management LLC bought a new stake in shares of Macerich during the 4th quarter valued at $156,000. Tower Research Capital LLC TRC lifted its position in shares of Macerich by 870.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 2,924 shares during the period. Miracle Mile Advisors LLC bought a new stake in shares of Macerich during the 4th quarter valued at $250,000. Virtu Financial LLC bought a new stake in shares of Macerich during the 4th quarter valued at $254,000. Finally, Cowen Prime Services LLC bought a new stake in shares of Macerich during the 4th quarter valued at $263,000. Hedge funds and other institutional investors own 97.14% of the company’s stock.
Macerich Company Profile
Macerich, an S&P 500 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. Macerich currently owns 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
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