Wall Street brokerages predict that The Macerich Company (NYSE:MAC) will announce sales of $194.31 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for The Macerich’s earnings. The lowest sales estimate is $191.50 million and the highest is $199.10 million. The Macerich reported sales of $178.59 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.8%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 10th.
On average, analysts expect that The Macerich will report full year sales of $793.62 million for the current financial year, with estimates ranging from $772.50 million to $821.30 million. For the next financial year, analysts anticipate that the firm will report sales of $829.47 million, with estimates ranging from $808.90 million to $858.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow The Macerich.
The Macerich (NYSE:MAC) last posted its quarterly earnings data on Tuesday, May 11th. The real estate investment trust reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.20). The company had revenue of $190.40 million during the quarter, compared to analyst estimates of $185.08 million. The Macerich had a negative return on equity of 11.74% and a negative net margin of 40.20%. The Macerich’s revenue was down 16.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share.
Institutional investors have recently made changes to their positions in the stock. NEXT Financial Group Inc grew its holdings in The Macerich by 865.4% during the first quarter. NEXT Financial Group Inc now owns 2,510 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 2,250 shares in the last quarter. Signaturefd LLC grew its holdings in The Macerich by 150.8% during the first quarter. Signaturefd LLC now owns 2,809 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,689 shares in the last quarter. IFP Advisors Inc grew its holdings in The Macerich by 137.0% during the fourth quarter. IFP Advisors Inc now owns 4,739 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 2,739 shares in the last quarter. Eaton Vance Management bought a new stake in The Macerich during the first quarter worth $70,000. Finally, Royal London Asset Management Ltd. bought a new stake in The Macerich during the fourth quarter worth $81,000. Institutional investors and hedge funds own 77.56% of the company’s stock.
Shares of The Macerich stock traded down $0.67 during midday trading on Friday, reaching $17.34. The company had a trading volume of 4,109,496 shares, compared to its average volume of 7,734,269. The stock’s fifty day moving average is $14.10. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 2.01. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of -9.04, a PEG ratio of 6.28 and a beta of 2.03. The Macerich has a fifty-two week low of $6.42 and a fifty-two week high of $25.99.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 3rd. Investors of record on Friday, May 7th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, May 6th. This represents a $0.60 annualized dividend and a yield of 3.46%. The Macerich’s dividend payout ratio (DPR) is currently 27.78%.
The Macerich Company Profile
Macerich 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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