Zacks Research Decreases Earnings Estimates for Macerich

The Macerich Company (NYSE:MAC - Free Report) - Equities researchers at Zacks Research lowered their FY2024 EPS estimates for Macerich in a research note issued to investors on Wednesday, November 27th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings per share of $1.52 for the year, down from their previous estimate of $1.59. The consensus estimate for Macerich's current full-year earnings is $1.58 per share. Zacks Research also issued estimates for Macerich's Q4 2024 earnings at $0.47 EPS, Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.37 EPS, Q3 2025 earnings at $0.40 EPS, FY2025 earnings at $1.55 EPS, Q1 2026 earnings at $0.36 EPS, Q2 2026 earnings at $0.38 EPS, Q3 2026 earnings at $0.43 EPS and FY2026 earnings at $1.65 EPS.

MAC has been the subject of a number of other research reports. Compass Point lifted their target price on shares of Macerich from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on Macerich from $13.00 to $14.60 and gave the company a "sell" rating in a research note on Thursday, September 19th. Bank of America raised their target price on Macerich from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, October 11th. Evercore ISI boosted their price target on Macerich from $15.00 to $16.00 and gave the company an "in-line" rating in a research note on Wednesday, August 28th. Finally, Piper Sandler raised their price objective on shares of Macerich from $11.00 to $14.00 and gave the stock an "underweight" rating in a research report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Macerich currently has an average rating of "Hold" and an average target price of $16.40.

Macerich Trading Down 1.6 %

Shares of NYSE:MAC traded down $0.34 during mid-day trading on Monday, reaching $20.87. 2,783,760 shares of the company's stock were exchanged, compared to its average volume of 1,850,957. The business's fifty day moving average price is $18.78 and its 200-day moving average price is $16.56. Macerich has a twelve month low of $11.94 and a twelve month high of $21.71. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 54.38, a PEG ratio of 0.72 and a beta of 2.50. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.90). Macerich had a net margin of 8.98% and a return on equity of 3.15%. The firm had revenue of $220.20 million during the quarter, compared to the consensus estimate of $208.54 million. During the same period last year, the business earned $0.44 earnings per share. The business's revenue was up .9% compared to the same quarter last year.

Institutional Trading of Macerich

Several hedge funds and other institutional investors have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. boosted its position in shares of Macerich by 0.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust's stock valued at $5,029,000 after acquiring an additional 700 shares during the period. Lodestone Wealth Management LLC lifted its stake in Macerich by 0.6% in the 3rd quarter. Lodestone Wealth Management LLC now owns 154,082 shares of the real estate investment trust's stock worth $2,810,000 after purchasing an additional 859 shares in the last quarter. Townsquare Capital LLC boosted its holdings in Macerich by 7.2% in the 3rd quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust's stock valued at $245,000 after purchasing an additional 902 shares during the period. GAMMA Investing LLC grew its position in shares of Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 933 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Macerich by 152.2% in the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust's stock worth $28,000 after buying an additional 933 shares in the last quarter. Institutional investors own 87.38% of the company's stock.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.68 annualized dividend and a yield of 3.26%. Macerich's payout ratio is 174.36%.

Macerich Company Profile

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.