$1.00 Earnings Per Share Expected for Macerich Co (NYSE:MAC) This Quarter

Equities research analysts expect that Macerich Co (NYSE:MAC) will post earnings of $1.00 per share for the current quarter, according to Zacks. Four analysts have issued estimates for Macerich’s earnings. The highest EPS estimate is $1.06 and the lowest is $0.97. Macerich posted earnings of $1.09 per share during the same quarter last year, which would indicate a negative year over year growth rate of 8.3%. The firm is scheduled to report its next earnings results on Thursday, February 6th.

On average, analysts expect that Macerich will report full-year earnings of $3.55 per share for the current fiscal year, with EPS estimates ranging from $3.53 to $3.58. For the next year, analysts expect that the company will report earnings of $3.62 per share, with EPS estimates ranging from $3.55 to $3.72. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Macerich.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.02). The company had revenue of $214.30 million for the quarter, compared to analyst estimates of $216.69 million. Macerich had a return on equity of 2.69% and a net margin of 8.76%. Macerich’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS.

Several research firms have weighed in on MAC. Morgan Stanley lowered their target price on Macerich from $30.00 to $26.50 and set an “underweight” rating on the stock in a research note on Tuesday, September 3rd. Zacks Investment Research raised Macerich from a “sell” rating to a “hold” rating and set a $30.00 target price on the stock in a research note on Monday, August 26th. ValuEngine raised Macerich from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. BMO Capital Markets cut Macerich from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $40.00 to $33.00 in a research note on Thursday, September 26th. Finally, TheStreet raised Macerich from a “d+” rating to a “c” rating in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $38.96.

NYSE:MAC traded down $0.45 on Monday, hitting $26.05. 2,697,180 shares of the company’s stock traded hands, compared to its average volume of 1,894,907. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.77. Macerich has a 1 year low of $25.53 and a 1 year high of $48.63. The firm has a 50-day moving average price of $27.41 and a 200-day moving average price of $30.79. The company has a market cap of $3.76 billion, a PE ratio of 6.77, a price-to-earnings-growth ratio of 5.51 and a beta of 0.70.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 8th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $3.00 annualized dividend and a yield of 11.52%. Macerich’s dividend payout ratio (DPR) is presently 77.92%.

In other news, Director Steve Hash purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average price of $26.44 per share, with a total value of $264,400.00. Following the purchase, the director now owns 26,884 shares in the company, valued at approximately $710,812.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christopher J. Zecchini sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $27.70, for a total value of $41,550.00. Following the completion of the sale, the chief accounting officer now directly owns 5,672 shares of the company’s stock, valued at approximately $157,114.40. The disclosure for this sale can be found here. Insiders own 1.73% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AXA grew its stake in shares of Macerich by 8.9% in the 2nd quarter. AXA now owns 17,105 shares of the real estate investment trust’s stock valued at $573,000 after buying an additional 1,397 shares in the last quarter. Northern Trust Corp grew its stake in shares of Macerich by 0.3% in the 2nd quarter. Northern Trust Corp now owns 1,961,960 shares of the real estate investment trust’s stock valued at $65,706,000 after buying an additional 5,292 shares in the last quarter. Davis Selected Advisers boosted its position in Macerich by 1.3% during the second quarter. Davis Selected Advisers now owns 66,530 shares of the real estate investment trust’s stock worth $2,228,000 after purchasing an additional 850 shares during the period. Balyasny Asset Management LLC boosted its position in Macerich by 5.8% during the second quarter. Balyasny Asset Management LLC now owns 762,142 shares of the real estate investment trust’s stock worth $25,524,000 after purchasing an additional 42,041 shares during the period. Finally, Usca Ria LLC bought a new stake in Macerich during the third quarter worth approximately $630,000.

About Macerich

Macerich, an S&P 500 company, is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.

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