Q3 2024 EPS Estimates for The Macerich Company (NYSE:MAC) Reduced by Analyst

The Macerich Company (NYSE:MAC) – Investment analysts at Zacks Research cut their Q3 2024 EPS estimates for Macerich in a report issued on Tuesday, May 21st. Zacks Research analyst R. Department now anticipates that the real estate investment trust will earn $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 $1.75 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.

MAC has been the subject of a number of other reports. Piper Sandler cut 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 research note on Wednesday, May 1st. Citigroup raised shares of Macerich from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $8.00 to $17.00 in a research note on Friday, March 22nd. Scotiabank lowered Macerich from a “sector perform” rating to a “sector underperform” rating and cut their price objective for the company from $16.00 to $14.00 in a report on Friday, May 17th. StockNews.com downgraded Macerich from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Finally, Compass Point cut their price objective 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. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.71.

Macerich Stock Up 2.8 %

MAC stock opened at $15.64 on Wednesday. Macerich has a twelve month low of $9.05 and a twelve month high of $17.69. The business’s 50-day moving average price is $15.88 and its 200-day moving average price is $15.15. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.81.

Hedge Funds Weigh In On Macerich

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC lifted its position 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 worth $33,000 after acquiring an additional 1,308 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Macerich in the third quarter worth about $36,000. Anchor Investment Management LLC acquired a new position in Macerich in the fourth quarter valued at approximately $40,000. Quest Partners LLC bought a new position in shares of Macerich in the 4th quarter worth $41,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Macerich during the 1st quarter worth about $46,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Insider Activity

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

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.68 annualized dividend and a dividend yield of 4.35%. Macerich’s payout ratio is currently -43.59%.

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.