The Macerich Company (NYSE:MAC – Free Report) – Investment analysts at Zacks Research cut their Q4 2024 earnings per share (EPS) estimates for Macerich in a research note issued on Monday, January 29th. Zacks Research analyst R. Department now expects that the real estate investment trust will earn $0.52 per share for the quarter, down from their previous forecast of $0.53. The consensus estimate for Macerich’s current full-year earnings is $1.77 per share. Zacks Research also issued estimates for Macerich’s Q3 2025 earnings at $0.46 EPS and FY2025 earnings at $1.79 EPS.
A number of other brokerages have also issued reports on MAC. StockNews.com assumed coverage on Macerich in a research report on Thursday, October 5th. They set a “sell” rating on the stock. Piper Sandler boosted their target price on Macerich from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 20th. Finally, The Goldman Sachs Group boosted their target price on Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating and one has given a hold rating to the company. According to data from MarketBeat, Macerich has a consensus rating of “Reduce” and an average price target of $13.25.
Macerich Stock Up 0.4 %
Shares of Macerich stock opened at $16.74 on Tuesday. The stock’s fifty day moving average is $14.50 and its 200-day moving average is $12.52. The firm has a market capitalization of $3.61 billion, a PE ratio of -10.80, a price-to-earnings-growth ratio of 3.45 and a beta of 2.29. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.72. Macerich has a 12-month low of $8.77 and a 12-month high of $16.84.
Macerich (NYSE:MAC – Get Free Report) last announced its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported ($1.22) earnings per share for the quarter, missing the consensus estimate of $0.44 by ($1.66). The firm had revenue of $218.20 million during the quarter, compared to analyst estimates of $200.63 million. Macerich had a negative net margin of 38.30% and a negative return on equity of 12.04%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 EPS.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of MAC. JPMorgan Chase & Co. raised its position in Macerich by 193.4% during the second quarter. JPMorgan Chase & Co. now owns 19,709,004 shares of the real estate investment trust’s stock valued at $222,120,000 after buying an additional 12,992,543 shares during the period. Goldman Sachs Group Inc. raised its position in Macerich by 867.8% during the second quarter. Goldman Sachs Group Inc. now owns 8,732,108 shares of the real estate investment trust’s stock valued at $98,411,000 after buying an additional 7,829,876 shares during the period. Prudential Financial Inc. raised its position in Macerich by 1,536.8% during the first quarter. Prudential Financial Inc. now owns 4,783,022 shares of the real estate investment trust’s stock valued at $74,806,000 after buying an additional 4,490,809 shares during the period. Norges Bank purchased a new position in Macerich in the fourth quarter valued at about $22,702,000. Finally, Cbre Investment Management Listed Real Assets LLC grew its stake in Macerich by 87.2% in the second quarter. Cbre Investment Management Listed Real Assets LLC now owns 3,315,192 shares of the real estate investment trust’s stock valued at $37,362,000 after purchasing an additional 1,544,046 shares in the last quarter. 90.14% of the stock is owned by institutional investors and hedge funds.
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.