Macerich (MAC) to Release Quarterly Earnings on Wednesday

Macerich (NYSE:MAC) is expected to post its quarterly earnings results before the market opens on Wednesday, February 5th. Analysts expect Macerich to post earnings of $0.05 per share and revenue of $228.82 million for the quarter.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The firm had revenue of $220.20 million for the quarter, compared to analyst estimates of $208.54 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. On average, analysts expect Macerich to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Macerich Price Performance

Shares of MAC stock opened at $20.56 on Wednesday. Macerich has a twelve month low of $12.99 and a twelve month high of $22.27. 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 business has a fifty day simple moving average of $20.47 and a 200 day simple moving average of $18.19. The company has a market cap of $5.11 billion, a P/E ratio of 52.73, a P/E/G ratio of 0.69 and a beta of 2.51.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Tuesday, November 12th. Macerich’s payout ratio is 174.36%.

Insider Activity at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total value of $1,303,120.51. Following the transaction, the director now directly owns 83,479 shares of the company’s stock, valued at approximately $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MAC shares. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and increased their target price for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Scotiabank upgraded shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 target price on the stock in a research report on Tuesday, December 17th. Bank of America upped their price target on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Piper Sandler lifted their price target on shares of Macerich from $14.00 to $17.00 and gave the stock an “underweight” rating in a report on Wednesday, December 11th. Finally, Compass Point increased their price objective on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.30.

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.