Zacks Research Equities Analysts Reduce Earnings Estimates for The Macerich Company (NYSE:MAC)

The Macerich Company (NYSE:MAC) – Analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for shares of Macerich in a research note issued to investors on Thursday, May 23rd. Zacks Research analyst R. Department now anticipates that the real estate investment trust will post earnings of $0.41 per share for the quarter, down from their previous estimate of $0.42. 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 $1.65 EPS, Q2 2025 earnings at $0.42 EPS, Q3 2025 earnings at $0.43 EPS and FY2025 earnings at $1.69 EPS.

MAC has been the subject of several other reports. Truist Financial restated a “hold” rating and issued a $16.00 price target on shares of Macerich in a research note on Monday, March 25th. StockNews.com downgraded Macerich from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Compass Point reduced their price target on Macerich from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Mizuho reduced their price target on Macerich from $17.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, May 1st. Finally, Piper Sandler downgraded Macerich from a “neutral” rating to an “underweight” rating and cut their target price for the company from $17.00 to $11.00 in a research report on Wednesday, May 1st. Five analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $14.71.

Macerich Stock Performance

Shares of NYSE MAC opened at $14.96 on Friday. The stock has a 50 day moving average of $15.81 and a 200-day moving average of $15.21. The company has a market capitalization of $3.23 billion, a P/E ratio of -9.59, a P/E/G ratio of 3.07 and a beta of 2.38. Macerich has a 12 month low of $9.05 and a 12 month high of $17.69. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.55%. Macerich’s dividend payout ratio (DPR) is currently -43.59%.

Insider Transactions at Macerich

In other Macerich news, EVP Kenneth Volk purchased 5,000 shares of the stock in a transaction dated Friday, May 10th. The stock was bought at an average price of $15.40 per share, with a total value of $77,000.00. Following the acquisition, the executive vice president now owns 51,924 shares of the company’s stock, valued at $799,629.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Scott W. Kingsmore bought 6,000 shares of the stock in a transaction on Thursday, May 9th. The stock was acquired at an average price of $16.06 per share, with a total value of $96,360.00. Following the acquisition, the chief financial officer now directly owns 42,310 shares in the company, valued at $679,498.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kenneth Volk bought 5,000 shares of the stock in a transaction on Friday, May 10th. The stock was purchased at an average cost of $15.40 per share, with a total value of $77,000.00. Following the acquisition, the executive vice president now owns 51,924 shares in the company, valued at $799,629.60. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 163,365 shares of company stock valued at $2,358,681 and sold 122,964 shares valued at $2,080,030. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Macerich

A number of institutional investors have recently made changes to their positions in MAC. Signaturefd LLC boosted its position in shares of Macerich by 152.4% during 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 in the last quarter. Anchor Investment Management LLC purchased a new stake in shares of Macerich in the fourth quarter worth approximately $40,000. Quest Partners LLC purchased a new stake in shares of Macerich in the fourth quarter worth approximately $41,000. Fidelis Capital Partners LLC purchased a new stake in shares of Macerich in the first quarter worth approximately $46,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Macerich in the third quarter worth approximately $36,000. Institutional investors own 87.38% of the company’s stock.

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.