FY2027 EPS Estimates for Macerich Cut by Zacks Research

The Macerich Company (NYSE:MAC - Free Report) - Analysts at Zacks Research reduced their FY2027 earnings estimates for Macerich in a research note issued to investors on Thursday, April 24th. Zacks Research analyst R. Department now expects that the real estate investment trust will earn $1.63 per share for the year, down from their prior estimate of $1.64. The consensus estimate for Macerich's current full-year earnings is $1.55 per share.

Several other research analysts have also recently issued reports on MAC. Piper Sandler cut their price target on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a report on Friday, February 28th. The Goldman Sachs Group decreased their target price on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research report on Monday, March 10th. Truist Financial upgraded Macerich from a "hold" rating to a "buy" rating and set a $19.00 price objective on the stock in a research report on Thursday, April 10th. Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and upped their target price for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. Finally, Morgan Stanley dropped their price target on Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $18.95.

Macerich Stock Performance

Shares of NYSE:MAC traded down $0.14 on Friday, reaching $14.54. The company's stock had a trading volume of 427,815 shares, compared to its average volume of 1,994,179. The stock's 50-day moving average is $16.28 and its two-hundred day moving average is $18.73. Macerich has a 52-week low of $12.48 and a 52-week high of $22.27. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $3.67 billion, a P/E ratio of 37.28, a PEG ratio of 0.71 and a beta of 2.17.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Tuesday, June 3rd. Macerich's dividend payout ratio (DPR) is presently -86.08%.

Institutional Trading of Macerich

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Macerich by 13.2% during the fourth quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust's stock valued at $769,260,000 after purchasing an additional 4,503,509 shares during the last quarter. FMR LLC grew its position in shares of Macerich by 87.3% during the fourth quarter. FMR LLC now owns 22,047,786 shares of the real estate investment trust's stock worth $439,192,000 after acquiring an additional 10,274,895 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Macerich by 845.9% during the fourth quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust's stock worth $200,222,000 after acquiring an additional 8,988,665 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Macerich by 10.6% during the fourth quarter. Geode Capital Management LLC now owns 6,001,399 shares of the real estate investment trust's stock worth $119,573,000 after acquiring an additional 574,490 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Macerich by 7.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,171,300 shares of the real estate investment trust's stock worth $103,012,000 after acquiring an additional 369,931 shares during the last quarter. Institutional investors own 87.38% of the company's stock.

About Macerich

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.