Equities research analysts predict that Macerich Co (NYSE:MAC) will post sales of $228.01 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Macerich’s earnings. The highest sales estimate is $230.20 million and the lowest is $225.81 million. Macerich reported sales of $256.74 million in the same quarter last year, which indicates a negative year-over-year growth rate of 11.2%. The company is expected to announce its next earnings results on Monday, February 4th.

According to Zacks, analysts expect that Macerich will report full-year sales of $861.41 million for the current year, with estimates ranging from $846.87 million to $874.80 million. For the next financial year, analysts forecast that the business will post sales of $884.85 million, with estimates ranging from $858.99 million to $906.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Macerich.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.32. Macerich had a net margin of 8.35% and a return on equity of 3.29%. The firm had revenue of $242.20 million during the quarter, compared to the consensus estimate of $220.02 million. During the same quarter last year, the firm earned $0.12 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year.

A number of analysts recently weighed in on the stock. ValuEngine lowered shares of Macerich from a “sell” rating to a “strong sell” rating in a research report on Friday. BMO Capital Markets set a $64.00 price objective on shares of Macerich and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Zacks Investment Research lowered shares of Macerich from a “hold” rating to a “sell” rating in a research report on Tuesday, August 21st. Barclays reissued a “hold” rating and issued a $54.00 price objective on shares of Macerich in a research report on Sunday, October 14th. Finally, Evercore ISI raised shares of Macerich from an “in-line” rating to an “outperform” rating in a research report on Monday, September 17th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $63.97.

Macerich stock traded down $1.23 during midday trading on Friday, reaching $48.63. The stock had a trading volume of 83,017 shares, compared to its average volume of 1,016,771. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.96 and a quick ratio of 0.96. Macerich has a 52-week low of $48.16 and a 52-week high of $69.73. The firm has a market capitalization of $6.94 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 1.98 and a beta of 0.82.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 6.17%. This is a positive change from Macerich’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Thursday, November 8th. Macerich’s dividend payout ratio (DPR) is presently 76.34%.

In other Macerich news, insider Dana K. Anderson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $51.65, for a total value of $516,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.76% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in MAC. Commonwealth Bank of Australia boosted its stake in Macerich by 737.2% in the second quarter. Commonwealth Bank of Australia now owns 1,800 shares of the real estate investment trust’s stock valued at $100,000 after acquiring an additional 1,585 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Macerich by 9,246.4% in the second quarter. Envestnet Asset Management Inc. now owns 2,617 shares of the real estate investment trust’s stock valued at $149,000 after acquiring an additional 2,589 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in Macerich in the third quarter valued at approximately $205,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Macerich in the second quarter valued at approximately $207,000. Finally, Mackenzie Financial Corp acquired a new stake in Macerich in the third quarter valued at approximately $208,000. Institutional investors own 96.48% of the company’s stock.

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 52 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.

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Earnings History and Estimates for Macerich (NYSE:MAC)

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