FY2024 EPS Estimates for Macerich Cut by Zacks Research

The Macerich Company (NYSE:MAC) – Equities research analysts at Zacks Research lowered their FY2024 earnings estimates for Macerich in a report issued on Wednesday, November 27th. Zacks Research analyst R. Department now expects 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.

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

Several other research firms also recently issued reports on MAC. Compass Point upped their price objective on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Bank of America lifted their price objective on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. The Goldman Sachs Group lifted their price target on shares of Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research report on Thursday, September 19th. Finally, Piper Sandler upped their price objective on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Macerich has an average rating of “Hold” and a consensus price target of $16.40.

Macerich Trading Up 1.1 %

Shares of NYSE MAC opened at $21.10 on Monday. Macerich has a 1-year low of $11.94 and a 1-year high of $21.71. The company has a 50-day moving average of $18.85 and a two-hundred day moving average of $16.60. The company has a market cap of $5.24 billion, a PE ratio of 54.10, a P/E/G ratio of 0.72 and a beta of 2.51. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Institutional Investors Weigh In On Macerich

Institutional investors have recently made changes to their positions in the company. FMR LLC grew its stake in shares of Macerich by 12,475.9% in the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock valued at $214,738,000 after acquiring an additional 11,679,276 shares in the last quarter. Bamco Inc. NY grew its position in shares of Macerich by 742.3% during the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock worth $30,924,000 after purchasing an additional 1,494,145 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Macerich by 399.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust’s stock worth $28,206,000 after purchasing an additional 1,236,983 shares during the period. Smead Capital Management Inc. increased its holdings in shares of Macerich by 3.5% during the third quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock worth $372,706,000 after purchasing an additional 688,790 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of Macerich in the second quarter valued at approximately $10,625,000. Institutional investors own 87.38% of the company’s stock.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Tuesday, November 12th. Macerich’s payout ratio is presently 174.36%.

About Macerich

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.