Equities analysts expect Macerich Company (The) (NYSE:MAC) to report sales of $227.45 million for the current quarter, Zacks reports. Two analysts have issued estimates for Macerich Company (The)’s earnings, with the lowest sales estimate coming in at $225.49 million and the highest estimate coming in at $229.41 million. Macerich Company (The) reported sales of $253.37 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 10.2%. The business is expected to announce its next quarterly earnings report on Thursday, October 26th.

According to Zacks, analysts expect that Macerich Company (The) will report full-year sales of $227.45 million for the current fiscal year, with estimates ranging from $806.89 million to $963.00 million. For the next year, analysts forecast that the business will report sales of $918.97 million per share, with estimates ranging from $829.77 million to $974.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Macerich Company (The).

Macerich Company (The) (NYSE:MAC) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. Macerich Company (The) had a net margin of 14.39% and a return on equity of 3.38%. The business had revenue of $247.20 million for the quarter, compared to analysts’ expectations of $218.62 million. During the same period in the previous year, the company posted $1.02 EPS. Macerich Company (The)’s revenue was down 4.9% on a year-over-year basis.

A number of research analysts recently weighed in on MAC shares. Mizuho downgraded shares of Macerich Company (The) from a “buy” rating to a “neutral” rating and decreased their target price for the company from $84.00 to $63.00 in a research report on Tuesday, May 30th. ValuEngine downgraded shares of Macerich Company (The) from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised shares of Macerich Company (The) from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 28th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $57.00 target price on shares of Macerich Company (The) in a research report on Monday, July 17th. Finally, Zacks Investment Research downgraded shares of Macerich Company (The) from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $68.36.

Macerich Company (MAC) traded down 0.27% during midday trading on Friday, hitting $55.63. 4,042,356 shares of the company traded hands. The stock’s 50-day moving average is $55.38 and its 200-day moving average is $59.69. Macerich Company has a 12-month low of $52.12 and a 12-month high of $83.28. The firm has a market capitalization of $7.87 billion, a PE ratio of 54.70 and a beta of 0.78.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Friday, August 18th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date was Wednesday, August 16th. Macerich Company (The)’s dividend payout ratio is presently 278.43%.

In other news, CEO Arthur M. Coppola sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $58.13, for a total transaction of $5,813,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.75% of the company’s stock.

Institutional investors have recently modified their holdings of the business. FDO Partners LLC acquired a new stake in Macerich Company (The) in the 1st quarter worth about $1,201,000. Global X Management Co. LLC raised its stake in Macerich Company (The) by 45.5% in the 1st quarter. Global X Management Co. LLC now owns 5,185 shares of the real estate investment trust’s stock worth $334,000 after purchasing an additional 1,621 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Macerich Company (The) by 33.7% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 35,862 shares of the real estate investment trust’s stock worth $2,082,000 after purchasing an additional 9,044 shares in the last quarter. SG Americas Securities LLC raised its stake in Macerich Company (The) by 24.1% in the 1st quarter. SG Americas Securities LLC now owns 39,432 shares of the real estate investment trust’s stock worth $2,539,000 after purchasing an additional 7,655 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in Macerich Company (The) by 1.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 95,143 shares of the real estate investment trust’s stock worth $6,127,000 after purchasing an additional 1,083 shares in the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

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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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Earnings History and Estimates for Macerich Company (The) (NYSE:MAC)

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