Revenue Update on Macerich Co(NYSE:MAC)

Macerich Co(NYSE:MAC) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Feb 6, 2017. Company reported revenue of $272.000M. Analysts estimated a revenue of $277.440M. The revenues were -1.96% below the estimates. Earnings per share were $1.17. The reported EPS was above estimates by 244.12%. Analysts had estimated an EPS of $0.34.

In a different note, On Dec 16, 2016, KeyBanc said it Upgrades its rating on Macerich Co. The shares have been rated ‘Overweight’ by the firm.

Macerich Co (MAC) shares turned negative on Tuesdays trading session with the shares closing down -1.64 points or -2.38% at a volume of 30,04,944. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $67.57. The peak price level was also seen at $67.57 while the days lowest was $66.61. Finally the shares closed at $67.38. The 52-week high of the shares is $94.51 while the 52-week low is $66. According to the latest information available, the market cap of the company is $9,702 M.

Several Insider Transactions has been reported to the SEC. On Jan 19, 2017, Hern Thomas E O (Senior EVP, Treasurer & CFO) sold 5,000 shares at $70.00 per share price.Also, On Jan 4, 2017, Robert D Perlmutter (Senior EVP and COO) sold 1,500 shares at $70.79 per share price.On Sep 23, 2016, Randy L Brant (EVP, Real Estate) sold 24,250 shares at $83.10 per share price, according to the Form-4 filing with the securities and exchange commission.

The Macerich Company is a self-managed and self-administered real estate investment trust (REIT). The Company is engaged in the acquisition ownership development redevelopment management and leasing of regional and community/power shopping centers located throughout the United States. The Company through its partnership and ownership interests in the Macerich Partnership L.P. has an ownership interest in 51 regional shopping centers and eight community/power shopping centers. These 59 regional and community/power shopping centers (which include any related office space) consist of approximately 55 million square feet of gross leasable area (GLA). The Centers primarily included 194 Anchors totaling approximately 28 million square feet of GLA and approximately 6000 Mall Stores and Freestanding Stores totaling approximately 26 million square feet of GLA.

Share this post

Leave a Reply