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.

Several equities analysts recently commented on the company. Citigroup reduced their target price on Macerich from $66.00 to $61.00 and set a “neutral” rating for the company in a research report on Monday, August 14th. BidaskClub upgraded Macerich from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Macerich from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. KeyCorp restated a “buy” rating and set a $75.00 target price on shares of Macerich in a research report on Thursday, September 28th. Finally, Jefferies Group restated a “hold” rating and set a $57.00 target price on shares of Macerich in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. Macerich presently has an average rating of “Hold” and a consensus price target of $66.80.

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.

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About Macerich

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 (NYSE:MAC)

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