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

The Macerich Company (NYSE:MAC) – Analysts at Zacks Research lowered their Q4 2024 earnings estimates for Macerich in a research report issued to clients and investors on Tuesday, May 21st. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings per share of $0.52 for the quarter, down from their prior forecast of $0.55. The consensus estimate for Macerich’s current full-year earnings is $1.72 per share. Zacks Research also issued estimates for Macerich’s Q4 2025 earnings at $0.47 EPS and FY2025 earnings at $1.70 EPS.

Other analysts have also issued research reports about the stock. Mizuho cut their target price 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. Scotiabank downgraded shares of Macerich from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the stock from $16.00 to $14.00 in a research note on Friday, May 17th. Citigroup raised shares of Macerich from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $8.00 to $17.00 in a research note on Friday, March 22nd. Piper Sandler downgraded shares of Macerich from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $17.00 to $11.00 in a research note on Wednesday, May 1st. Finally, Truist Financial reaffirmed a “hold” rating and issued a $16.00 price target on shares of Macerich in a research note on Monday, March 25th. Five equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.71.

Macerich Price Performance

Shares of NYSE:MAC opened at $15.19 on Thursday. The company’s 50 day simple moving average is $15.85 and its 200 day simple moving average is $15.15. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.03 and a quick ratio of 1.03. Macerich has a 1 year low of $9.05 and a 1 year high of $17.69.

Macerich Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 4.48%. Macerich’s dividend payout ratio is currently -43.59%.

Insider Activity

In other Macerich news, CEO Jackson Hsieh bought 140,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $14.26 per share, for a total transaction of $1,996,400.00. Following the acquisition, the chief executive officer now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other Macerich news, CEO Jackson Hsieh bought 140,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $14.26 per share, for a total transaction of $1,996,400.00. Following the acquisition, the chief executive officer now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ann C. Menard bought 4,865 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was acquired at an average price of $15.40 per share, for a total transaction of $74,921.00. Following the acquisition, the insider now directly owns 20,633 shares in the company, valued at $317,748.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 163,365 shares of company stock worth $2,358,681 and have sold 122,964 shares worth $2,080,030. Company insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Macerich

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Macerich by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 34,672,065 shares of the real estate investment trust’s stock worth $597,400,000 after purchasing an additional 193,787 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Macerich by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,654,465 shares of the real estate investment trust’s stock valued at $71,818,000 after acquiring an additional 165,649 shares during the period. Kennedy Capital Management LLC grew its position in shares of Macerich by 0.9% during the 3rd quarter. Kennedy Capital Management LLC now owns 1,540,033 shares of the real estate investment trust’s stock valued at $16,802,000 after acquiring an additional 14,131 shares during the period. Norges Bank bought a new position in shares of Macerich during the 4th quarter valued at approximately $22,210,000. Finally, Wellington Management Group LLP bought a new position in shares of Macerich during the 4th quarter valued at approximately $18,938,000. 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.