Equities research analysts expect Macerich Co (NYSE:MAC) to announce earnings per share of $1.01 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Macerich’s earnings, with the lowest EPS estimate coming in at $0.98 and the highest estimate coming in at $1.03. Macerich posted earnings of $0.96 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.2%. The business is scheduled to report its next quarterly earnings results on Monday, October 29th.
On average, analysts expect that Macerich will report full-year earnings of $3.92 per share for the current financial year, with EPS estimates ranging from $3.77 to $3.99. For the next year, analysts anticipate that the company will report earnings of $4.12 per share, with EPS estimates ranging from $3.95 to $4.20. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Macerich.
Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.91). Macerich had a return on equity of 1.58% and a net margin of 2.52%. The company had revenue of $234.50 million for the quarter, compared to analysts’ expectations of $216.37 million. During the same quarter in the previous year, the business posted $0.19 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year.
A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Macerich from a “hold” rating to a “sell” rating in a research report on Monday, July 30th. BMO Capital Markets set a $66.00 target price on Macerich and gave the company a “buy” rating in a research report on Wednesday, August 1st. Boenning Scattergood set a $75.00 target price on Macerich and gave the company a “buy” rating in a research report on Friday, May 4th. SunTrust Banks restated a “hold” rating and issued a $60.00 target price on shares of Macerich in a research report on Thursday. Finally, Bank of America lifted their target price on Macerich from $60.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, August 13th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $64.47.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC grew its stake in shares of Macerich by 335.8% in the second quarter. Jane Street Group LLC now owns 19,210 shares of the real estate investment trust’s stock valued at $1,092,000 after buying an additional 14,802 shares in the last quarter. BTC Capital Management Inc. acquired a new stake in shares of Macerich in the second quarter valued at $1,377,000. Millennium Management LLC grew its stake in shares of Macerich by 5,624.2% in the second quarter. Millennium Management LLC now owns 625,313 shares of the real estate investment trust’s stock valued at $35,537,000 after buying an additional 614,389 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Macerich by 202.1% in the second quarter. Tower Research Capital LLC TRC now owns 20,872 shares of the real estate investment trust’s stock valued at $1,186,000 after buying an additional 13,963 shares in the last quarter. Finally, Ardsley Advisory Partners grew its stake in shares of Macerich by 38.9% in the second quarter. Ardsley Advisory Partners now owns 12,500 shares of the real estate investment trust’s stock valued at $710,000 after buying an additional 3,500 shares in the last quarter. 95.39% of the stock is owned by institutional investors and hedge funds.
Macerich stock traded up $0.61 during trading on Tuesday, reaching $57.82. 690,289 shares of the company were exchanged, compared to its average volume of 1,398,155. Macerich has a 52-week low of $52.12 and a 52-week high of $69.73. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 2.26 and a beta of 0.86. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.91 and a current ratio of 0.91.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Shareholders of record on Friday, August 17th will be given a $0.74 dividend. The ex-dividend date is Thursday, August 16th. This represents a $2.96 dividend on an annualized basis and a yield of 5.12%. Macerich’s dividend payout ratio is currently 75.32%.
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.
Featured Story: Book Value Per Share – BVPS
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with MarketBeat.com's FREE daily email newsletter.