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 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers. Macerich specializes in successful retail properties in many of the country's most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago, and the New York Metro area to Washington DC corridor. A recognized leader in sustainability, Macerich has earned NAREIT's prestigious "Leader in the Light" award every year from 2014-2017. For the third straight year in 2017 Macerich achieved the #1 GRESB ranking in the North American Retail Sector, among many other environmental accomplishments. Additional information about Macerich can be obtained from the Company's website at www.macerich.com.
Industry, Sector and Symbol
Industry Real estate investment trusts
Sub-IndustryRetail REITs
SectorFinance
SymbolNYSE:MAC
CUSIP55438210
Phone310-394-6000
Debt
Debt-to-Equity Ratio1.56
Current Ratio0.98
Quick Ratio0.98
Price-To-Earnings
Trailing P/E Ratio14.17
Forward P/E Ratio14.04
P/E Growth2.1
Sales & Book Value
Annual Sales$993.66 million
Price / Sales7.89
Cash Flow$3.7309 per share
Price / Cash14.90
Book Value$28.19 per share
Price / Book1.97
Profitability
EPS (Most Recent Fiscal Year)$3.93
Net Income$146.13 million
Net Margins4.40%
Return on Equity1.48%
Return on Assets0.61%
Miscellaneous
Employees855
Outstanding Shares140,990,000
Macerich (NYSE:MAC) Frequently Asked Questions
What is Macerich's stock symbol?
Macerich trades on the New York Stock Exchange (NYSE) under the ticker symbol "MAC."
How often does Macerich pay dividends? What is the dividend yield for Macerich?
Macerich announced a quarterly dividend on Friday, April 27th. Shareholders of record on Tuesday, May 8th will be paid a dividend of $0.74 per share on Friday, June 1st. This represents a $2.96 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date is Monday, May 7th. View Macerich's Dividend History.
How will Macerich's stock buyback program work?
Macerich declared that its Board of Directors has authorized a stock buyback plan on Friday, April 7th 2017, which allows the company to repurchase $500,000,000.00 in shares, according to EventVestor. This repurchase authorization allows the company to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.
How were Macerich's earnings last quarter?
Macerich Co (NYSE:MAC) issued its earnings results on Wednesday, May, 2nd. The real estate investment trust reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by $1.05. The real estate investment trust had revenue of $212.38 million for the quarter, compared to analyst estimates of $216.47 million. Macerich had a net margin of 4.40% and a return on equity of 1.48%. The firm's revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.87 EPS. View Macerich's Earnings History.
When is Macerich's next earnings date?
What guidance has Macerich issued on next quarter's earnings?
Macerich issued an update on its FY18 earnings guidance on Wednesday, May, 2nd. The company provided earnings per share guidance of $3.92 to $4.02 for the period, compared to the Thomson Reuters consensus estimate of $3.95.
What price target have analysts set for MAC?
16 equities research analysts have issued 12-month price targets for Macerich's shares. Their predictions range from $57.00 to $75.00. On average, they expect Macerich's share price to reach $64.4688 in the next year. View Analyst Ratings for Macerich.
What are Wall Street analysts saying about Macerich stock?
Here are some recent quotes from research analysts about Macerich stock:
- 1. According to Zacks Investment Research, "Shares of Macerich have underperformed the industry over the past three month. In addition, the stock has seen the Zacks Consensus Estimate for 2019 funds from operations (FFO) per share being revised downward in a month’s time. During first-quarter 2018, the company recorded lower portfolio occupancy. Notably, shrinking footfall amid shift of consumers toward online channels, store closures and bankruptcy of retailers are expected to adversely affect the company’s performance in the near term. While Macerich is striving to counter the pressure through portfolio revamp and efforts to support omni-channel retailing, the implementation of such measures requires a decent upfront cost and therefore, would limit any robust growth in its profit margins. Further, hike in interest rates remains a concern for the company." (5/30/2018)
- 2. Boenning Scattergood analysts commented, "We reiterate our Outperform rating and price target of $75 per share, a discount to our estimated NAV of approximately $84." (2/7/2018)
Who are some of Macerich's key competitors?
Some companies that are related to Macerich include Weyerhaeuser (WY), Equity Residential (EQR), AvalonBay Communities (AVB), DIGITAL Rlty Tr/SH SH (DLR), UNIBAIL-RODAMCO/ADR (UNRDY), Welltower (WELL), GGP (GGP), Ventas (VTR), Boston Properties (BXP), SBA Communications (SBAC), Host Hotels and Resorts (HST), Essex Property Trust (ESS), Realty Income (O), Vornado Realty Trust (VNO) and Alexandria Real Estate Equities (ARE).
Who are Macerich's key executives?
Macerich's management team includes the folowing people:
- Mr. Arthur M. Coppola CPA, Chairman, CEO & Director (Age 66)
- Mr. Edward C. Coppola, Pres & Director (Age 63)
- Mr. Thomas E. O'Hern CPA, Sr. EVP, Treasurer, Chief Financial & Accounting Officer (Age 62)
- Mr. Robert D. Perlmutter, Sr. EVP & COO (Age 56)
- Ms. Ann C. Menard, Exec. VP, Chief Legal Officer & Sec.
Has Macerich been receiving favorable news coverage?
News articles about MAC stock have trended somewhat positive on Tuesday, according to Accern Sentiment Analysis. The research firm rates the sentiment of press coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Macerich earned a news impact score of 0.06 on Accern's scale. They also gave news coverage about the real estate investment trust an impact score of 47.61 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company's share price in the immediate future.
Who are Macerich's major shareholders?
Macerich's stock is owned by a number of of retail and institutional investors. Top institutional investors include BlackRock Inc. (8.12%), Northern Trust Corp (1.55%), Dimensional Fund Advisors LP (1.43%), Legal & General Group Plc (0.97%), Prudential Financial Inc. (0.92%) and Schwab Charles Investment Management Inc. (0.90%). Company insiders that own Macerich stock include Arthur M Coppola, Dana K Anderson, Hern Thomas E O, Randy L Brant and Robert D Perlmutter. View Institutional Ownership Trends for Macerich.
Which institutional investors are selling Macerich stock?
MAC stock was sold by a variety of institutional investors in the last quarter, including Long Pond Capital LP, First Foundation Advisors, Jane Street Group LLC, Neuberger Berman Group LLC, Millennium Management LLC, UBS Group AG, Advantus Capital Management Inc and Swiss National Bank. View Insider Buying and Selling for Macerich.
Which institutional investors are buying Macerich stock?
MAC stock was purchased by a variety of institutional investors in the last quarter, including Prudential Financial Inc., Element Capital Management LLC, Nuveen Asset Management LLC, Teachers Insurance & Annuity Association of America, Amundi Pioneer Asset Management Inc., Water Island Capital LLC, Legal & General Group Plc and Wells Fargo & Company MN. View Insider Buying and Selling for Macerich.
How do I buy shares of Macerich?
Shares of MAC can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Macerich's stock price today?
One share of MAC stock can currently be purchased for approximately $55.59.
How big of a company is Macerich?
Macerich has a market capitalization of $7.88 billion and generates $993.66 million in revenue each year. The real estate investment trust earns $146.13 million in net income (profit) each year or $3.93 on an earnings per share basis. Macerich employs 855 workers across the globe.
How can I contact Macerich?
Macerich's mailing address is 401 WILSHIRE BLVD STE 700, SANTA MONICA CA, 90401. The real estate investment trust can be reached via phone at 310-394-6000.
MarketBeat Community Rating for Macerich (MAC)
MarketBeat's community ratings are surveys of what our community members think about Macerich and other stocks. Vote "Outperform" if you believe MAC will outperform the S&P 500 over the long term. Vote "Underperform" if you believe MAC will underperform the S&P 500 over the long term. You may vote once every thirty days.
