FY2024 EPS Estimates for Macerich Reduced by Zacks Research

The Macerich Company (NYSE:MAC) – Zacks Research reduced their FY2024 earnings estimates for Macerich in a research note issued on Wednesday, November 27th. Zacks Research analyst R. Department now expects that the real estate investment trust will earn $1.52 per share for the year, down from their previous forecast 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 posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). The business had revenue of $220.20 million for the quarter, compared to analyst estimates of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. Macerich’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS.

A number of other research firms also recently weighed in on MAC. Piper Sandler increased 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. Bank of America increased their price target on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Evercore ISI boosted their price target on shares of Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Finally, Compass Point raised their price objective on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.40.

Macerich Stock Up 1.1 %

Shares of NYSE:MAC opened at $21.10 on Monday. The company has a fifty day moving average of $18.85 and a 200-day moving average of $16.60. Macerich has a 52-week low of $11.94 and a 52-week high of $21.71. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $5.24 billion, a PE ratio of 54.10, a price-to-earnings-growth ratio of 0.72 and a beta of 2.51.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Smead Capital Management Inc. increased its stake in Macerich by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock valued at $372,706,000 after buying an additional 688,790 shares during the last quarter. FMR LLC increased its position in shares of Macerich by 12,475.9% during 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 during the last quarter. Geode Capital Management LLC lifted its holdings in Macerich by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust’s stock worth $99,004,000 after acquiring an additional 34,982 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Macerich by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,801,369 shares of the real estate investment trust’s stock worth $87,577,000 after purchasing an additional 113,128 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Macerich by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,217,373 shares of the real estate investment trust’s stock valued at $49,675,000 after purchasing an additional 126,192 shares during the period. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Announces Dividend

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

Macerich Company Profile

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.