Zacks Research Comments on The Macerich Company’s FY2024 Earnings (NYSE:MAC)

The Macerich Company (NYSE:MAC) – Research analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for Macerich in a report issued on Thursday, September 26th. Zacks Research analyst R. Department now anticipates that the real estate investment trust will post earnings of $1.59 per share for the year, down from their prior forecast of $1.63. The consensus estimate for Macerich’s current full-year earnings is $1.63 per share. Zacks Research also issued estimates for Macerich’s Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.38 EPS, Q3 2025 earnings at $0.41 EPS, Q4 2025 earnings at $0.44 EPS, FY2025 earnings at $1.59 EPS, Q1 2026 earnings at $0.38 EPS, Q2 2026 earnings at $0.40 EPS and FY2026 earnings at $1.69 EPS.

A number of other research analysts also recently commented on MAC. Piper Sandler boosted their target price on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research note on Tuesday, September 3rd. Evercore ISI boosted their target price on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group boosted their price target on Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research report on Thursday, September 19th. Finally, StockNews.com raised Macerich from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Macerich has an average rating of “Hold” and a consensus target price of $15.45.

Macerich Stock Performance

Shares of NYSE MAC opened at $17.95 on Monday. The business’s 50-day moving average price is $15.83 and its two-hundred day moving average price is $15.61. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.86 and a quick ratio of 0.86. Macerich has a one year low of $9.21 and a one year high of $18.05. The company has a market capitalization of $3.87 billion, a P/E ratio of -11.51, a price-to-earnings-growth ratio of 0.58 and a beta of 2.49.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.68 annualized dividend and a dividend yield of 3.79%. Macerich’s dividend payout ratio is presently -43.59%.

Hedge Funds Weigh In On Macerich

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Macerich by 0.6% during 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 during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Macerich by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,217,373 shares of the real estate investment trust’s stock worth $49,675,000 after purchasing an additional 126,192 shares during the last quarter. Norges Bank acquired a new position in shares of Macerich during the 4th quarter worth about $22,210,000. Renaissance Technologies LLC lifted its position in shares of Macerich by 10.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,233,600 shares of the real estate investment trust’s stock worth $19,047,000 after purchasing an additional 116,200 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of Macerich during the 4th quarter worth about $18,938,000. 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.