Analysts expect Macerich (NYSE:MAC) to report $213.42 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Macerich’s earnings, with the lowest sales estimate coming in at $209.72 million and the highest estimate coming in at $216.00 million. Macerich posted sales of $247.42 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 13.7%. The business is scheduled to announce its next earnings report on Wednesday, August 1st.
On average, analysts expect that Macerich will report full-year sales of $891.31 million for the current year, with estimates ranging from $881.76 million to $903.90 million. For the next fiscal year, analysts anticipate that the company will post sales of $920.27 million per share, with estimates ranging from $893.61 million to $939.64 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Macerich.
Macerich (NYSE:MAC) last posted its earnings results on Wednesday, May 2nd. The real estate investment trust reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($1.05). Macerich had a net margin of 4.40% and a return on equity of 1.48%. The company had revenue of $212.38 million during the quarter, compared to analyst estimates of $216.47 million. During the same quarter last year, the business posted $0.87 EPS. Macerich’s quarterly revenue was down 3.4% compared to the same quarter last year.
A number of equities research analysts have recently issued reports on MAC shares. BTIG Research lowered their target price on Macerich to $66.00 and set a “buy” rating for the company in a research note on Wednesday, March 14th. Boenning Scattergood reiterated a “buy” rating and issued a $75.00 target price on shares of Macerich in a research note on Wednesday, February 7th. Mizuho upgraded Macerich from a “neutral” rating to a “buy” rating in a research note on Friday, April 20th. Barclays lowered their target price on Macerich from $62.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 30th. Finally, Morgan Stanley reiterated a “hold” rating on shares of Macerich in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $65.10.
Institutional investors and hedge funds have recently modified their holdings of the stock. APG Asset Management US Inc. purchased a new position in Macerich in the fourth quarter valued at about $47,842,000. Land & Buildings Investment Management LLC bought a new position in Macerich during the 4th quarter worth approximately $29,808,000. Price Michael F lifted its holdings in Macerich by 100.0% during the 4th quarter. Price Michael F now owns 100,000 shares of the real estate investment trust’s stock worth $6,568,000 after buying an additional 50,000 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Macerich by 7.0% during the 4th quarter. California Public Employees Retirement System now owns 399,482 shares of the real estate investment trust’s stock worth $26,238,000 after buying an additional 26,103 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Macerich by 3.7% during the 4th quarter. BlackRock Inc. now owns 11,422,384 shares of the real estate investment trust’s stock worth $750,223,000 after buying an additional 412,265 shares during the last quarter. 97.14% of the stock is owned by hedge funds and other institutional investors.
MAC stock opened at $54.84 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.56. Macerich has a 1 year low of $52.12 and a 1 year high of $69.73. The stock has a market capitalization of $7.73 billion, a PE ratio of 13.95, a P/E/G ratio of 2.06 and a beta of 0.85.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 8th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date is Monday, May 7th. 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.
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