The Macerich Company (NYSE:MAC) to Post Q3 2024 Earnings of $0.42 Per Share, Zacks Research Forecasts

The Macerich Company (NYSE:MAC) – Equities research analysts at Zacks Research decreased their Q3 2024 earnings per share estimates for shares of Macerich in a note issued to investors on Tuesday, May 21st. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings of $0.42 per share for the quarter, down from their previous estimate of $0.46. The consensus estimate for Macerich’s current full-year earnings is $1.72 per share. Zacks Research also issued estimates for Macerich’s FY2024 earnings at $1.66 EPS, Q1 2025 earnings at $0.37 EPS, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.44 EPS, Q1 2026 earnings at $0.40 EPS and FY2026 earnings at $1.79 EPS.

Other research analysts also recently issued research reports about the stock. Mizuho cut their price objective on shares of Macerich from $17.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 1st. StockNews.com downgraded Macerich from a “hold” rating to a “sell” rating in a research report on Tuesday, April 30th. Compass Point lowered their price objective on Macerich from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Scotiabank lowered Macerich from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the company from $16.00 to $14.00 in a research report on Friday, May 17th. Finally, Truist Financial reissued a “hold” rating and issued a $16.00 price target on shares of Macerich in a report on Monday, March 25th. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.71.

Macerich Price Performance

Shares of MAC stock opened at $14.91 on Wednesday. The stock’s 50-day moving average is $15.83 and its 200 day moving average is $15.14. Macerich has a 1-year low of $9.05 and a 1-year high of $17.69. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $3.22 billion, a P/E ratio of -9.55, a PEG ratio of 3.22 and a beta of 2.38.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.68 dividend on an annualized basis and a yield of 4.56%. Macerich’s dividend payout ratio is currently -43.59%.

Insider Buying and Selling

In other Macerich news, Director Hern Thomas E. O sold 7,964 shares of Macerich stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total transaction of $130,529.96. Following the completion of the sale, the director now directly owns 197,900 shares in the company, valued at approximately $3,243,581. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Jackson Hsieh acquired 140,000 shares of Macerich stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $14.26 per share, for a total transaction of $1,996,400.00. Following the purchase, the chief executive officer now owns 170,500 shares of the company’s stock, valued at approximately $2,431,330. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Hern Thomas E. O sold 7,964 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $16.39, for a total value of $130,529.96. Following the completion of the transaction, the director now directly owns 197,900 shares of the company’s stock, valued at approximately $3,243,581. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 163,365 shares of company stock worth $2,358,681 and have sold 122,964 shares worth $2,080,030. 0.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MAC. Signaturefd LLC lifted its stake in shares of Macerich by 152.4% in the 4th quarter. Signaturefd LLC now owns 2,166 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,308 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of Macerich in the third quarter worth about $36,000. Anchor Investment Management LLC purchased a new stake in shares of Macerich during the 4th quarter worth about $40,000. Quest Partners LLC acquired a new stake in shares of Macerich during the 4th quarter valued at about $41,000. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Macerich in the 1st quarter valued at about $46,000. 87.38% of the stock is owned by institutional investors and hedge funds.

About Macerich

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.