Wall Street analysts expect The Macerich Company (NYSE:MAC – Get Rating) to announce $211.80 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Macerich’s earnings. The lowest sales estimate is $209.20 million and the highest is $214.40 million. Macerich reported sales of $215.47 million in the same quarter last year, which indicates a negative year-over-year growth rate of 1.7%. The business is expected to announce its next earnings report on Monday, January 1st.
On average, analysts expect that Macerich will report full year sales of $896.40 million for the current financial year, with estimates ranging from $875.70 million to $917.10 million. For the next fiscal year, analysts expect that the company will report sales of $914.55 million, with estimates ranging from $894.50 million to $934.60 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Macerich.
Macerich (NYSE:MAC – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The real estate investment trust reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.63). Macerich had a return on equity of 1.29% and a net margin of 4.66%. The company had revenue of $216.10 million for the quarter, compared to the consensus estimate of $209.20 million. During the same quarter last year, the business earned $0.45 EPS. Macerich’s revenue was up 13.5% on a year-over-year basis.
Macerich stock traded up $0.08 during mid-day trading on Monday, reaching $12.60. 2,921,408 shares of the company were exchanged, compared to its average volume of 3,544,536. The company has a fifty day simple moving average of $14.15 and a 200-day simple moving average of $16.54. Macerich has a 12 month low of $11.76 and a 12 month high of $22.88. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.27 and a quick ratio of 1.21. The firm has a market cap of $2.70 billion, a PE ratio of 63.00, a PEG ratio of 1.64 and a beta of 1.88.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 3rd. Investors of record on Friday, May 20th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Thursday, May 19th. Macerich’s dividend payout ratio (DPR) is 300.00%.
In related news, President Edward C. Coppola bought 10,000 shares of the business’s stock in a transaction on Monday, March 28th. The shares were purchased at an average cost of $14.98 per share, with a total value of $149,800.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Edward C. Coppola bought 2,100 shares of the business’s stock in a transaction on Thursday, March 31st. The shares were bought at an average cost of $15.90 per share, for a total transaction of $33,390.00. Following the completion of the acquisition, the president now directly owns 475,739 shares in the company, valued at approximately $7,564,250.10. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 22,100 shares of company stock worth $329,390. 1.94% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in MAC. Whittier Trust Co. lifted its stake in shares of Macerich by 201.1% in the 1st quarter. Whittier Trust Co. now owns 2,246 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,500 shares during the period. West Bancorporation Inc. acquired a new position in shares of Macerich in the 4th quarter valued at about $40,000. Spire Wealth Management lifted its stake in shares of Macerich by 106.6% in the 4th quarter. Spire Wealth Management now owns 2,424 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 1,251 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Macerich in the 4th quarter valued at about $53,000. Finally, Compagnie Lombard Odier SCmA lifted its stake in shares of Macerich by 546.2% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 4,200 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 3,550 shares during the period. 84.57% of the stock is currently owned by institutional investors.
About Macerich (Get Rating)
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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