$227.70 Million in Sales Expected for Macerich Company (The) (MAC) This Quarter

Wall Street brokerages forecast that Macerich Company (The) (NYSE:MAC) will post $227.70 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Macerich Company (The)’s earnings. The lowest sales estimate is $215.83 million and the highest is $249.90 million. Macerich Company (The) posted sales of $259.90 million during the same quarter last year, which suggests a negative year over year growth rate of 12.4%. The firm is scheduled to issue its next earnings results on Monday, August 7th.

According to Zacks, analysts expect that Macerich Company (The) will report full-year sales of $227.70 million for the current year, with estimates ranging from $804.63 million to $1.05 billion. For the next financial year, analysts anticipate that the firm will report sales of $939.87 million per share, with estimates ranging from $831.33 million to $1.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Macerich Company (The).

Macerich Company (The) (NYSE:MAC) last released its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.03. The business had revenue of $219.90 million during the quarter, compared to analyst estimates of $222.65 million. Macerich Company (The) had a return on equity of 3.72% and a net margin of 16.01%. The company’s revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS.

Several research analysts recently issued reports on MAC shares. Goldman Sachs Group, Inc. (The) cut shares of Macerich Company (The) from a “neutral” rating to a “sell” rating and set a $64.00 price target for the company. in a report on Friday, March 17th. Deutsche Bank AG cut their price target on shares of Macerich Company (The) to $65.00 and set a “hold” rating for the company in a report on Tuesday, March 21st. ValuEngine cut shares of Macerich Company (The) from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. KeyCorp cut their price target on shares of Macerich Company (The) from $80.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday, March 22nd. Finally, Canaccord Genuity cut their price target on shares of Macerich Company (The) from $77.00 to $71.00 and set a “hold” rating for the company in a report on Monday, March 27th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. Macerich Company (The) presently has an average rating of “Hold” and an average target price of $73.71.

Macerich Company (NYSE:MAC) traded up 0.51% during midday trading on Friday, hitting $57.45. The stock had a trading volume of 1,693,701 shares. The stock has a 50 day moving average of $58.92 and a 200 day moving average of $65.05. Macerich Company has a 12 month low of $56.06 and a 12 month high of $94.51. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of 50.39 and a beta of 0.78.

The business also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Friday, May 5th were issued a $0.71 dividend. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 4.94%. Macerich Company (The)’s dividend payout ratio (DPR) is presently 249.12%.

A number of hedge funds and other institutional investors have recently modified their holdings of MAC. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Macerich Company (The) by 6.5% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 18,085 shares of the real estate investment trust’s stock worth $1,165,000 after buying an additional 1,100 shares during the period. Achmea Investment Management B.V. bought a new position in shares of Macerich Company (The) during the first quarter worth about $1,076,000. Bank of Nova Scotia bought a new position in shares of Macerich Company (The) during the first quarter worth about $1,603,000. Oppenheimer Asset Management Inc. bought a new position in shares of Macerich Company (The) during the first quarter worth about $1,207,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Macerich Company (The) by 1.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 919,374 shares of the real estate investment trust’s stock worth $59,208,000 after buying an additional 13,994 shares during the period. 98.73% of the stock is owned by institutional investors.

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Macerich Company (The) Company Profile

The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.

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