Equities research analysts forecast that Macerich Company (The) (NYSE:MAC) will report sales of $240.77 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Macerich Company (The)’s earnings, with estimates ranging from $227.30 million to $265.60 million. Macerich Company (The) posted sales of $253.37 million during the same quarter last year, which suggests a negative year over year growth rate of 5%. The company is scheduled to announce its next quarterly earnings report on Thursday, October 26th.

On average, analysts expect that Macerich Company (The) will report full year sales of $240.77 million for the current fiscal year, with estimates ranging from $804.63 million to $1.05 billion. For the next fiscal year, analysts forecast that the firm will report sales of $946.44 million per share, with estimates ranging from $831.33 million to $1.08 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. Macerich Company (The) had a return on equity of 3.38% and a net margin of 14.39%. The business had revenue of $247.20 million for the quarter, compared to analysts’ expectations of $218.62 million. During the same quarter in the prior year, the business earned $1.02 EPS. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis.

A number of analysts recently commented on MAC shares. Zacks Investment Research upgraded Macerich Company (The) from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Barclays PLC dropped their price target on Macerich Company (The) from $66.00 to $63.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 19th. Citigroup Inc. reiterated a “neutral” rating on shares of Macerich Company (The) in a report on Thursday, May 11th. Mizuho lowered Macerich Company (The) from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $84.00 to $63.00 in a report on Tuesday, May 30th. Finally, ValuEngine lowered Macerich Company (The) from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $70.46.

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In other Macerich Company (The) news, CEO Arthur M. Coppola sold 100,000 shares of the business’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $58.13, for a total value of $5,813,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.75% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Macerich Company (The) by 1.6% in the first quarter. Vanguard Group Inc. now owns 22,714,895 shares of the real estate investment trust’s stock valued at $1,462,838,000 after buying an additional 353,936 shares during the last quarter. BlackRock Inc. raised its stake in shares of Macerich Company (The) by 2,249.6% in the first quarter. BlackRock Inc. now owns 12,358,247 shares of the real estate investment trust’s stock valued at $795,870,000 after buying an additional 11,832,272 shares during the last quarter. Morgan Stanley raised its stake in shares of Macerich Company (The) by 104.8% in the first quarter. Morgan Stanley now owns 5,649,199 shares of the real estate investment trust’s stock valued at $363,809,000 after buying an additional 2,890,935 shares during the last quarter. AEW Capital Management L P raised its stake in shares of Macerich Company (The) by 306.7% in the second quarter. AEW Capital Management L P now owns 3,132,200 shares of the real estate investment trust’s stock valued at $35,531,000 after buying an additional 2,362,121 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Macerich Company (The) by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,948,476 shares of the real estate investment trust’s stock valued at $125,481,000 after buying an additional 19,867 shares during the last quarter. Hedge funds and other institutional investors own 95.43% of the company’s stock.

Shares of Macerich Company (NYSE:MAC) opened at 59.69 on Thursday. The company has a market cap of $8.46 billion, a PE ratio of 52.36 and a beta of 0.77. Macerich Company has a 1-year low of $54.98 and a 1-year high of $85.80. The company has a 50-day moving average price of $58.33 and a 200-day moving average price of $62.21.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Friday, August 18th will be paid a $0.71 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.84 annualized dividend and a dividend yield of 4.76%. Macerich Company (The)’s payout ratio is presently 278.43%.

About Macerich Company (The)

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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