Brokerages Expect The Macerich Company (NYSE:MAC) Will Announce Quarterly Sales of $211.80 Million

Wall Street analysts expect The Macerich Company (NYSE:MACGet Rating) to report $211.80 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Macerich’s earnings. The highest sales estimate is $214.40 million and the lowest is $209.20 million. Macerich reported sales of $215.47 million in the same quarter last year, which indicates a negative year over year growth rate of 1.7%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Macerich will report full year sales of $896.40 million for the current fiscal year, with estimates ranging from $875.70 million to $917.10 million. For the next fiscal year, analysts forecast that the firm will report sales of $914.55 million, with estimates ranging from $894.50 million to $934.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Macerich.

Macerich (NYSE:MACGet Rating) last released its quarterly earnings results on Monday, May 9th. The real estate investment trust reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.63). Macerich had a return on equity of 1.29% and a net margin of 4.66%. The company had revenue of $216.10 million for the quarter, compared to analyst estimates of $209.20 million. During the same period in the previous year, the business posted $0.45 EPS. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year.

A number of analysts have recently weighed in on MAC shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Macerich from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, March 31st. Morgan Stanley reduced their price objective on Macerich from $14.75 to $14.00 and set an “underweight” rating on the stock in a research note on Monday, March 7th. StockNews.com upgraded Macerich from a “sell” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Company reduced their price objective on Macerich from $17.00 to $15.00 and set an “underweight” rating on the stock in a research note on Thursday, April 7th. Finally, Piper Sandler cut Macerich from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $18.00 to $14.00 in a research note on Monday, April 18th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.80.

Shares of MAC stock traded up $0.08 during mid-day trading on Monday, reaching $12.60. 2,921,408 shares of the company were exchanged, compared to its average volume of 3,544,536. Macerich has a fifty-two week low of $11.76 and a fifty-two week high of $22.88. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.21 and a current ratio of 1.27. The company has a market capitalization of $2.70 billion, a P/E ratio of 63.00, a P/E/G ratio of 1.64 and a beta of 1.88. The business’s 50 day simple moving average is $14.15 and its 200 day simple moving average is $16.54.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 3rd. Investors of record on Friday, May 20th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend is Thursday, May 19th. Macerich’s dividend payout ratio is currently 300.00%.

In other news, President Edward C. Coppola bought 10,000 shares of the stock in a transaction that occurred on Monday, March 28th. The shares were purchased at an average cost of $14.98 per share, with a total value of $149,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Edward C. Coppola bought 2,100 shares of the stock in a transaction that occurred on Thursday, March 31st. The shares were purchased at an average cost of $15.90 per share, for a total transaction of $33,390.00. Following the completion of the acquisition, the president now owns 475,739 shares of the company’s stock, valued at $7,564,250.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 22,100 shares of company stock worth $329,390. Company insiders own 1.94% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MAC. Whittier Trust Co. increased its stake in Macerich by 201.1% in the 1st quarter. Whittier Trust Co. now owns 2,246 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 1,500 shares in the last quarter. West Bancorporation Inc. purchased a new position in Macerich in the 4th quarter worth about $40,000. Spire Wealth Management increased its stake in Macerich by 106.6% in the 4th quarter. Spire Wealth Management now owns 2,424 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 1,251 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Macerich in the 4th quarter worth about $53,000. Finally, Compagnie Lombard Odier SCmA increased its stake in Macerich by 546.2% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 4,200 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 3,550 shares in the last quarter. 84.57% of the stock is currently owned by hedge funds and other institutional investors.

About Macerich (Get Rating)

Macerich 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 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.

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