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

The Macerich Company (NYSE:MAC) – Investment analysts at Zacks Research upped their Q3 2024 EPS estimates for shares of Macerich in a note issued to investors on Wednesday, June 26th. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings of $0.42 per share for the quarter, up from their previous estimate 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.

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler downgraded shares of Macerich from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $17.00 to $11.00 in a research report on Wednesday, May 1st. Truist Financial restated a “hold” rating and set a $16.00 price target on shares of Macerich in a report on Monday, March 25th. Scotiabank cut shares of Macerich from a “sector perform” rating to a “sector underperform” rating and reduced their price objective for the stock from $16.00 to $14.00 in a research note on Friday, May 17th. Citigroup upgraded shares of Macerich from a “sell” rating to a “neutral” rating and raised their target price for the company from $8.00 to $17.00 in a research note on Friday, March 22nd. Finally, The Goldman Sachs Group cut their target price on shares of Macerich from $14.00 to $12.50 and set a “sell” rating for the company in a research report on Monday, June 17th. Five investment 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 MarketBeat.com, Macerich has an average rating of “Hold” and a consensus price target of $14.64.

Macerich Trading Up 1.9 %

NYSE:MAC 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. Macerich has a fifty-two week low of $9.21 and a fifty-two week 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 stock’s 50-day moving average is $15.08 and its two-hundred day moving average is $15.79.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date was Friday, May 17th. Macerich’s dividend payout ratio (DPR) is presently -43.59%.

Insider Activity at Macerich

In other news, CEO Jackson Hsieh acquired 140,000 shares of Macerich stock in a transaction on Monday, May 6th. The stock was bought at an average price of $14.26 per share, for a total transaction of $1,996,400.00. Following the transaction, the chief executive officer now owns 170,500 shares of the company’s stock, valued at $2,431,330. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Macerich news, CEO Jackson Hsieh acquired 140,000 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was bought 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 in the company, valued at approximately $2,431,330. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Doug J. Healey acquired 7,500 shares of Macerich stock in a transaction dated Tuesday, May 7th. The shares were acquired at an average cost of $15.20 per share, with a total value of $114,000.00. Following the completion of the acquisition, the executive vice president now directly owns 78,487 shares in the company, valued at approximately $1,193,002.40. The disclosure for this purchase can be found here. Insiders have bought 163,365 shares of company stock worth $2,358,681 over the last three months. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MAC. Y.D. More Investments Ltd lifted its holdings in Macerich by 0.9% during the 4th quarter. Y.D. More Investments Ltd now owns 81,330 shares of the real estate investment trust’s stock valued at $1,255,000 after purchasing an additional 745 shares during the last quarter. SeaCrest Wealth Management LLC raised its stake in shares of Macerich by 1.6% in the first quarter. SeaCrest Wealth Management LLC now owns 60,937 shares of the real estate investment trust’s stock valued at $1,050,000 after acquiring an additional 978 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of Macerich by 8.2% in the 4th quarter. Metis Global Partners LLC now owns 13,666 shares of the real estate investment trust’s stock worth $211,000 after acquiring an additional 1,040 shares in the last quarter. Swiss National Bank grew 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 last quarter. Finally, CIBC Asset Management Inc increased its holdings 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 valued at $360,000 after purchasing an additional 1,275 shares in the last quarter. 87.38% of the stock is owned by institutional investors.

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.