Jefferies Financial Group Analysts Reduce Earnings Estimates for The Macerich Company (NYSE:MAC)

The Macerich Company (NYSE:MAC – Get Rating) – Stock analysts at Jefferies Financial Group decreased their Q2 2023 earnings per share (EPS) estimates for shares of Macerich in a note issued to investors on Friday, April 14th. Jefferies Financial Group analyst L. Tsai now forecasts that the real estate investment trust will post earnings per share of $0.40 for the quarter, down from their prior forecast of $0.41. The consensus estimate for Macerich’s current full-year earnings is $1.80 per share. Jefferies Financial Group also issued estimates for Macerich’s Q4 2023 earnings at $0.55 EPS, Q4 2024 earnings at $0.55 EPS, FY2024 earnings at $1.83 EPS, Q1 2025 earnings at $0.45 EPS, FY2025 earnings at $1.98 EPS and FY2026 earnings at $2.17 EPS.

A number of other research analysts also recently weighed in on MAC. Piper Sandler lifted their price target on Macerich from $9.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, February 8th. The Goldman Sachs Group initiated coverage on Macerich in a report on Tuesday, March 21st. They issued a “sell” rating and a $8.50 price target for the company. Finally, StockNews.com cut Macerich from a “hold” rating to a “sell” rating in a report on Saturday, April 1st. Five analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.22.

Macerich Stock Down 2.2 %

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Shares of MAC stock opened at $9.57 on Monday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $2.06 billion, a PE ratio of -31.90, a price-to-earnings-growth ratio of 1.77 and a beta of 2.11. The business’s fifty day moving average is $11.20 and its 200-day moving average is $11.45. Macerich has a 1 year low of $7.40 and a 1 year high of $14.83.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 3rd. Shareholders of record on Friday, February 17th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, February 16th. This represents a $0.68 annualized dividend and a yield of 7.11%. Macerich’s dividend payout ratio is currently -226.66%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC bought a new stake in Macerich during the fourth quarter valued at $28,000. Point72 Hong Kong Ltd acquired a new stake in shares of Macerich in the 2nd quarter worth about $29,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Macerich by 42.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,831 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 1,136 shares during the last quarter. Wipfli Financial Advisors LLC acquired a new stake in shares of Macerich in the 3rd quarter worth about $55,000. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of Macerich in the 3rd quarter worth about $79,000. 80.81% of the stock is currently owned by institutional investors and hedge funds.

About Macerich

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Macerich Co operates as a real estate investment trust, which engages in the acquisition, ownership, development, redevelopment, management, and leasing of regional and community shopping centers located throughout the United States. The company was founded by Mace Siegel Dana K. Anderson, Arthur M. Coppola and Edward C.