Research Analysts Offer Predictions for The Macerich Company’s Q3 2024 Earnings (NYSE:MAC)

The Macerich Company (NYSE:MAC) – Investment analysts at Zacks Research upped their Q3 2024 earnings per share (EPS) estimates for shares of Macerich in a report issued on Wednesday, June 26th. Zacks Research analyst R. Department now expects that the real estate investment trust will earn $0.42 per share for the quarter, up from their previous forecast of $0.41. 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, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.48 EPS and FY2025 earnings at $1.71 EPS.

Other equities analysts also recently issued research reports about the stock. Piper Sandler downgraded shares of Macerich from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $17.00 to $11.00 in a report on Wednesday, May 1st. Truist Financial reissued a “hold” rating and set a $16.00 price objective on shares of Macerich in a report on Monday, March 25th. Compass Point cut their target price on shares of Macerich from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Mizuho reduced their price objective on Macerich from $17.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 1st. Finally, StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. 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 stock. According to data from MarketBeat.com, Macerich has an average rating of “Hold” and an average target price of $14.64.

Macerich Stock Up 1.9 %

Macerich stock opened at $15.44 on Monday. The stock has a market cap of $3.33 billion, a PE ratio of -9.90, a price-to-earnings-growth ratio of 3.18 and a beta of 2.43. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a fifty day moving average of $15.08 and a 200 day moving average of $15.79. Macerich has a one year low of $9.21 and a one year high of $17.69.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.40%. Macerich’s dividend payout ratio is presently -43.59%.

Insider Transactions at Macerich

In related news, CEO Jackson Hsieh acquired 140,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average cost of $14.26 per share, with a total value of $1,996,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 170,500 shares of the company’s stock, valued at $2,431,330. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Scott W. Kingsmore bought 6,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were purchased at an average cost of $16.06 per share, with a total value of $96,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 42,310 shares in the company, valued at $679,498.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jackson Hsieh purchased 140,000 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was bought at an average cost of $14.26 per share, with a total value of $1,996,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 170,500 shares of the company’s stock, valued at approximately $2,431,330. The disclosure for this purchase can be found here. Insiders have bought a total of 163,365 shares of company stock valued at $2,358,681 in the last 90 days. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Macerich

A number of hedge funds and other institutional investors have recently made changes to their positions in MAC. DekaBank Deutsche Girozentrale grew its position in shares of Macerich by 158.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 131,487 shares of the real estate investment trust’s stock valued at $2,201,000 after purchasing an additional 80,541 shares during the period. Caxton Associates LP purchased a new stake in shares of Macerich in the first quarter valued at about $472,000. Bamco Inc. NY purchased a new stake in shares of Macerich in the 1st quarter valued at approximately $4,403,000. Price T Rowe Associates Inc. MD raised its position in Macerich by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 147,656 shares of the real estate investment trust’s stock valued at $2,545,000 after purchasing an additional 7,957 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Macerich by 7.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 518,143 shares of the real estate investment trust’s stock valued at $8,911,000 after acquiring an additional 35,000 shares during the period. Institutional investors and hedge funds 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.