The Macerich Company Expected to Post FY2024 Earnings of $1.59 Per Share (NYSE:MAC)

by · The Markets Daily

The Macerich Company (NYSE:MAC – Free Report) – Equities researchers at Zacks Research cut their FY2024 earnings per share estimates for shares of Macerich in a report released on Thursday, September 26th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will earn $1.59 per share for the year, down from their prior estimate of $1.63. The consensus estimate for Macerich’s current full-year earnings is $1.63 per share. Zacks Research also issued estimates for Macerich’s Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.38 EPS, Q3 2025 earnings at $0.41 EPS, Q4 2025 earnings at $0.44 EPS, FY2025 earnings at $1.59 EPS, Q1 2026 earnings at $0.38 EPS, Q2 2026 earnings at $0.40 EPS and FY2026 earnings at $1.69 EPS.

A number of other brokerages also recently issued reports on MAC. Piper Sandler lifted their price target on shares of Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, September 3rd. Evercore ISI boosted 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. StockNews.com raised Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research report on Thursday, September 19th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Macerich currently has an average rating of “Hold” and an average price target of $15.45.

Read Our Latest Report on MAC

Macerich Trading Down 1.8 %

MAC stock opened at $17.91 on Monday. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of -11.48, a PEG ratio of 0.58 and a beta of 2.49. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.86 and a quick ratio of 0.86. Macerich has a 1-year low of $9.21 and a 1-year high of $18.33. The business has a 50 day simple moving average of $15.87 and a two-hundred day simple moving average of $15.62.

Hedge Funds Weigh In On Macerich

Large investors have recently bought and sold shares of the business. SeaCrest Wealth Management LLC increased its stake in Macerich by 1.6% during the 1st quarter. SeaCrest Wealth Management LLC now owns 60,937 shares of the real estate investment trust’s stock valued at $1,050,000 after purchasing an additional 978 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Macerich by 10.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,500 shares of the real estate investment trust’s stock valued at $178,000 after acquiring an additional 1,132 shares during the period. Arizona State Retirement System increased its position in shares of Macerich by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 60,391 shares of the real estate investment trust’s stock valued at $932,000 after acquiring an additional 1,181 shares during the period. Swiss National Bank lifted its position in Macerich by 0.3% during the 1st quarter. Swiss National Bank now owns 425,415 shares of the real estate investment trust’s stock worth $7,330,000 after acquiring an additional 1,200 shares during the period. Finally, CIBC Asset Management Inc lifted its position in Macerich by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 23,313 shares of the real estate investment trust’s stock worth $360,000 after acquiring an additional 1,275 shares during the period. Institutional investors own 87.38% of the company’s stock.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.68 annualized dividend and a dividend yield of 3.80%. Macerich’s payout ratio is currently -43.59%.

About Macerich

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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.

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