Wall Street brokerages expect Macerich Co (NYSE:MAC) to announce $0.86 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Macerich’s earnings. The lowest EPS estimate is $0.83 and the highest is $0.88. Macerich posted earnings of $0.96 per share during the same quarter last year, which indicates a negative year over year growth rate of 10.4%. The business is scheduled to announce its next quarterly earnings results on Wednesday, August 7th.
On average, analysts expect that Macerich will report full-year earnings of $3.56 per share for the current fiscal year, with EPS estimates ranging from $3.54 to $3.57. For the next year, analysts anticipate that the firm will post earnings of $3.69 per share, with EPS estimates ranging from $3.65 to $3.74. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Macerich.
Macerich (NYSE:MAC) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.76). Macerich had a return on equity of 3.75% and a net margin of 10.67%. The firm had revenue of $216.34 million for the quarter, compared to the consensus estimate of $206.88 million. During the same period in the previous year, the company posted $0.82 EPS. Macerich’s quarterly revenue was down 4.4% compared to the same quarter last year.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Macerich from a “sell” rating to a “hold” rating in a research report on Thursday, January 17th. Mizuho lowered shares of Macerich from a “buy” rating to a “neutral” rating and set a $48.00 price target for the company. in a research report on Wednesday, January 23rd. ValuEngine lowered shares of Macerich from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 24th. BMO Capital Markets reiterated a “buy” rating and set a $56.00 target price on shares of Macerich in a research report on Thursday, February 7th. Finally, Wells Fargo & Co lowered shares of Macerich from an “outperform” rating to a “market perform” rating and set a $43.00 target price for the company. in a research report on Friday, February 8th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. Macerich currently has an average rating of “Hold” and an average target price of $54.00.
Shares of MAC traded down $0.22 during midday trading on Friday, reaching $41.74. 669,728 shares of the stock were exchanged, compared to its average volume of 1,178,363. Macerich has a 52 week low of $39.71 and a 52 week high of $60.95. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 6.59 and a beta of 0.83.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 8th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $3.00 dividend on an annualized basis and a yield of 7.19%. Macerich’s dividend payout ratio is presently 77.92%.
In other news, CEO Hern Thomas E. O acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was bought at an average cost of $40.99 per share, for a total transaction of $409,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Edward C. Coppola acquired 5,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was purchased at an average price of $40.50 per share, with a total value of $202,500.00. The disclosure for this purchase can be found here. 1.73% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Macerich by 1.6% in the fourth quarter. BlackRock Inc. now owns 11,780,366 shares of the real estate investment trust’s stock valued at $509,854,000 after acquiring an additional 187,685 shares during the period. Morgan Stanley raised its stake in Macerich by 12.0% in the first quarter. Morgan Stanley now owns 7,764,085 shares of the real estate investment trust’s stock valued at $336,573,000 after purchasing an additional 831,500 shares in the last quarter. FMR LLC raised its stake in Macerich by 9.0% in the fourth quarter. FMR LLC now owns 3,680,537 shares of the real estate investment trust’s stock valued at $159,293,000 after purchasing an additional 302,366 shares in the last quarter. Cohen & Steers Inc. raised its stake in Macerich by 1,008.6% in the fourth quarter. Cohen & Steers Inc. now owns 2,907,664 shares of the real estate investment trust’s stock valued at $125,844,000 after purchasing an additional 2,645,377 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its stake in shares of Macerich by 11.0% during the first quarter. Centersquare Investment Management LLC now owns 2,638,882 shares of the real estate investment trust’s stock worth $114,396,000 after acquiring an additional 260,675 shares in the last quarter. Institutional investors own 98.01% of the company’s stock.
Macerich Company Profile
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 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.
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