Equities analysts expect that Macerich Co (NYSE:MAC) will post sales of $214.12 million for the current quarter, according to Zacks. Two analysts have issued estimates for Macerich’s earnings. The highest sales estimate is $215.39 million and the lowest is $212.84 million. Macerich posted sales of $247.05 million in the same quarter last year, which would indicate a negative year over year growth rate of 13.3%. The firm is expected to report its next earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Macerich will report full year sales of $214.12 million for the current year, with estimates ranging from $817.32 million to $970.00 million. For the next fiscal year, analysts anticipate that the firm will post sales of $896.95 million per share, with estimates ranging from $835.05 million to $938.10 million. Zacks’ sales averages are an average based on a survey of analysts that cover Macerich.
Macerich (NYSE:MAC) last released its earnings results on Monday, February 5th. The real estate investment trust reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.11). The business had revenue of $245.30 million for the quarter, compared to the consensus estimate of $237.90 million. Macerich had a net margin of 14.71% and a return on equity of 3.91%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.17 EPS.
A number of research analysts have recently commented on the company. Citigroup cut their target price on Macerich from $66.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Morgan Stanley reaffirmed a “hold” rating on shares of Macerich in a research note on Tuesday, February 6th. Mizuho set a $63.00 target price on Macerich and gave the company a “hold” rating in a research note on Friday, February 16th. Barclays cut their target price on Macerich from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 30th. Finally, BMO Capital Markets set a $62.00 target price on Macerich and gave the company a “hold” rating in a research note on Monday, February 5th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $67.26.
Macerich (MAC) traded down $1.96 on Friday, hitting $57.85. The stock had a trading volume of 1,025,051 shares, compared to its average volume of 1,970,573. The company has a market capitalization of $8,360.98, a PE ratio of 56.72, a price-to-earnings-growth ratio of 2.22 and a beta of 0.83. Macerich has a 1 year low of $52.12 and a 1 year high of $69.73. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.88.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Wednesday, February 21st will be issued a $0.74 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.12%. Macerich’s payout ratio is 290.20%.
Several hedge funds and other institutional investors have recently made changes to their positions in MAC. Delpha Capital Management LLC purchased a new stake in Macerich during the fourth quarter worth $156,000. Tower Research Capital LLC TRC lifted its holdings in Macerich by 870.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the real estate investment trust’s stock worth $214,000 after buying an additional 2,924 shares during the period. Meeder Asset Management Inc. purchased a new stake in Macerich during the third quarter worth $216,000. Amica Pension Fund Board of Trustees purchased a new stake in Macerich during the third quarter worth $229,000. Finally, Miracle Mile Advisors LLC purchased a new stake in Macerich during the fourth quarter worth $250,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.
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The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.
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