Macerich Co (MAC) Expected to Post Quarterly Sales of $234.43 Million
Wall Street brokerages expect that Macerich Co (NYSE:MAC) will post $234.43 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Macerich’s earnings. The highest sales estimate is $234.63 million and the lowest is $234.22 million. Macerich posted sales of $272.00 million during the same quarter last year, which would suggest a negative year over year growth rate of 13.8%. The firm is expected to issue its next earnings results on Monday, February 5th.
According to Zacks, analysts expect that Macerich will report full year sales of $234.43 million for the current year, with estimates ranging from $811.42 million to $963.00 million. For the next fiscal year, analysts forecast that the business will post sales of $903.01 million per share, with estimates ranging from $814.96 million to $974.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Macerich.
Macerich (NYSE:MAC) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.86). Macerich had a return on equity of 3.56% and a net margin of 14.92%. The business had revenue of $242.50 million for the quarter, compared to analysts’ expectations of $226.00 million. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Macerich’s quarterly revenue was down 4.3% compared to the same quarter last year.
Macerich (MAC) traded up $0.52 during trading on Friday, reaching $64.75. The company had a trading volume of 1,612,100 shares, compared to its average volume of 1,469,865. Macerich has a twelve month low of $52.12 and a twelve month high of $73.34. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $8,991.16, a PE ratio of 16.05, a price-to-earnings-growth ratio of 2.96 and a beta of 0.80.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.96 annualized dividend and a yield of 4.57%. This is a positive change from Macerich’s previous quarterly dividend of $0.71. Macerich’s payout ratio is 281.91%.
A number of hedge funds have recently modified their holdings of MAC. Sentry Investment Management LLC lifted its stake in shares of Macerich by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 9,690 shares of the real estate investment trust’s stock valued at $563,000 after acquiring an additional 102 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Macerich by 0.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,917 shares of the real estate investment trust’s stock valued at $1,098,000 after acquiring an additional 177 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Macerich by 7.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,774 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 203 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in shares of Macerich by 11.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,111 shares of the real estate investment trust’s stock valued at $239,000 after acquiring an additional 435 shares during the last quarter. Finally, Ffcm LLC lifted its stake in shares of Macerich by 6.4% in the 2nd quarter. Ffcm LLC now owns 8,490 shares of the real estate investment trust’s stock valued at $493,000 after acquiring an additional 510 shares during the last quarter. 98.03% of the stock is owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Macerich Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich Co and related companies with MarketBeat.com's FREE daily email newsletter.