FY2024 EPS Estimates for Macerich Reduced by Zacks Research

The Macerich Company (NYSE:MAC) – Analysts at Zacks Research decreased their FY2024 earnings per share (EPS) estimates for shares of Macerich in a research report issued on Wednesday, November 27th. Zacks Research analyst R. Department now anticipates that the real estate investment trust will post earnings per share of $1.52 for the year, down from their prior 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.

A number of other research analysts also recently weighed in on MAC. Compass Point increased their price objective on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Evercore ISI raised their price objective on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group lifted their target price on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research note on Thursday, September 19th. Piper Sandler increased their price objective on shares of Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, September 3rd. Finally, Bank of America boosted their target price on Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.40.

Macerich Trading Up 0.3 %

NYSE:MAC opened at $21.21 on Monday. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 54.38, a PEG ratio of 0.72 and a beta of 2.50. Macerich has a 52 week low of $11.30 and a 52 week high of $21.71. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The company’s 50 day moving average price is $18.78 and its 200-day moving average price is $16.56.

Macerich (NYSE:MAC) last issued its quarterly earnings results 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 return on equity of 3.15% and a net margin of 8.98%. 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 business earned $0.44 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year.

Institutional Investors Weigh In On Macerich

A number of large investors have recently modified their holdings of MAC. Blue Trust Inc. boosted its position in shares of Macerich by 152.2% in the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 933 shares during the period. Quest Partners LLC acquired a new position in Macerich during the second quarter worth $50,000. GAMMA Investing LLC lifted its stake in shares of Macerich by 40.9% in the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 933 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Macerich during the second quarter worth $129,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Macerich by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock valued at $150,000 after acquiring an additional 2,161 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a $0.17 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.68 annualized dividend and a yield of 3.21%. Macerich’s dividend payout ratio is presently 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.