Revenue Update on Macerich Co(NYSE:MAC)

Macerich Co(NYSE:MAC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 1, 2016. Company reported revenue of $259.90M. Analysts estimated a revenue of $252.32M. Earnings per share were $1.02. Analysts had estimated an EPS of $0.99.

In a different note, On May 6, 2016, RBC Capital said it Upgrades its rating on Macerich Co. The shares have been rated ‘Outperform’ by the firm.

Macerich Co (MAC) made into the market gainers list on Mondays trading session with the shares advancing 0.09% or 0.08 points. Due to strong positive momentum, the stock ended at $86.29, which is also near the day’s high of $86.93. The stock began the session at $86.13 and the volume stood at 5,50,059 shares. The 52-week high of the shares is $94.51 and the 52 week low is $71.82. The company has a current market capitalization of $12,393 M and it has 14,36,25,500 shares in outstanding.

Macerich Co has also declared a cash dividend of $0.6800 on Jul 22, 2016. The shares will quote ex-dividend on Aug 17, 2016 and the record date has been fixed on Aug 19, 2016. The dividend payable date has been fixed on Sep 8, 2016.

Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Robert D Perlmutter (Senior EVP and COO) sold 1,500 shares at $85.49 per share price.Also, On Jun 17, 2016, Hern Thomas E O (Senior EVP, Treasurer & CFO) sold 5,000 shares at $79.03 per share price.On Mar 9, 2016, Thomas J. Leanse (Senior EVP, CLO & Secretary) sold 17,166 shares at $78.84 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.

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