Macerich Co (NYSE:MAC) – Boenning Scattergood cut their Q3 2018 earnings per share estimates for Macerich in a report issued on Tuesday, according to Zacks Investment Research. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the real estate investment trust will post earnings of $1.01 per share for the quarter, down from their prior forecast of $1.02. Boenning Scattergood currently has a “Buy” rating and a $75.00 price target on the stock. Boenning Scattergood also issued estimates for Macerich’s Q4 2018 earnings at $1.13 EPS.
A number of other equities analysts have also commented on the stock. Wells Fargo & Co raised shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 price target on the stock in a report on Tuesday, December 19th. Evercore ISI lowered shares of Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 price target on the stock. in a report on Monday, December 11th. Mizuho reissued a “hold” rating and issued a $60.00 price target on shares of Macerich in a report on Friday, November 10th. BMO Capital Markets set a $55.00 price target on shares of Macerich and gave the stock a “hold” rating in a report on Monday, October 30th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $66.00 price target on shares of Macerich in a report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $66.85.
Macerich (NYSE:MAC) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.86). The firm had revenue of $242.50 million for the quarter, compared to the consensus estimate of $226.00 million. Macerich had a return on equity of 3.56% and a net margin of 14.92%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the company posted $1.04 EPS.
Institutional investors have recently made changes to their positions in the company. Valeo Financial Advisors LLC purchased a new stake in shares of Macerich in the 3rd quarter valued at $621,000. Bluestein R H & Co. purchased a new stake in shares of Macerich in the 3rd quarter valued at $632,000. TCW Group Inc. boosted its stake in shares of Macerich by 19.8% in the 3rd quarter. TCW Group Inc. now owns 286,032 shares of the real estate investment trust’s stock valued at $15,723,000 after purchasing an additional 47,216 shares in the last quarter. Amica Mutual Insurance Co. purchased a new stake in shares of Macerich in the 3rd quarter valued at $310,000. Finally, Third Point LLC purchased a new stake in shares of Macerich in the 3rd quarter valued at $94,878,000. 97.57% of the stock is owned by institutional investors.
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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