Macerich (NYSE:MAC) Releases FY 2022 Earnings Guidance

Macerich (NYSE:MACGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.90-$2.04 for the period. The company issued revenue guidance of -.

MAC stock opened at $12.60 on Monday. Macerich has a 12-month low of $11.76 and a 12-month high of $22.88. The company has a quick ratio of 1.21, a current ratio of 1.27 and a debt-to-equity ratio of 1.44. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 63.00, a PEG ratio of 1.72 and a beta of 1.88. The company has a 50 day moving average of $14.15 and a two-hundred day moving average of $16.52.

Macerich (NYSE:MACGet Rating) last released its earnings results on Monday, May 9th. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.63). Macerich had a return on equity of 1.29% and a net margin of 4.66%. The company had revenue of $216.10 million during the quarter, compared to analysts’ expectations of $209.20 million. During the same quarter in the previous year, the company earned $0.45 EPS. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, research analysts anticipate that Macerich will post 1.96 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 3rd. Shareholders of record on Friday, May 20th will be given a $0.15 dividend. The ex-dividend date is Thursday, May 19th. This represents a $0.60 dividend on an annualized basis and a yield of 4.76%. Macerich’s payout ratio is 300.00%.

A number of equities research analysts have issued reports on MAC shares. TheStreet downgraded shares of Macerich from a c rating to a d+ rating in a research report on Thursday, February 10th. Piper Sandler lowered shares of Macerich from a neutral rating to an underweight rating and dropped their price target for the stock from $18.00 to $14.00 in a research note on Monday, April 18th. Wells Fargo & Company dropped their price target on shares of Macerich from $17.00 to $15.00 and set an underweight rating on the stock in a research note on Thursday, April 7th. StockNews.com upgraded shares of Macerich from a sell rating to a hold rating in a research note on Thursday. Finally, Morgan Stanley dropped their price target on shares of Macerich from $14.75 to $14.00 and set an underweight rating on the stock in a research note on Monday, March 7th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $19.80.

In related news, President Edward C. Coppola purchased 2,100 shares of the firm’s stock in a transaction on Thursday, March 31st. The shares were bought at an average cost of $15.90 per share, for a total transaction of $33,390.00. Following the transaction, the president now directly owns 475,739 shares of the company’s stock, valued at approximately $7,564,250.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Edward C. Coppola purchased 10,000 shares of the firm’s stock in a transaction on Monday, March 28th. The stock was bought at an average price of $14.98 per share, for a total transaction of $149,800.00. The disclosure for this purchase can be found here. Insiders purchased a total of 22,100 shares of company stock worth $329,390 over the last quarter. 1.94% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. lifted its holdings in Macerich by 1,536.8% during the 1st quarter. Prudential Financial Inc. now owns 4,783,022 shares of the real estate investment trust’s stock valued at $74,806,000 after purchasing an additional 4,490,809 shares during the last quarter. Morgan Stanley lifted its holdings in Macerich by 417.1% during the 2nd quarter. Morgan Stanley now owns 2,400,938 shares of the real estate investment trust’s stock valued at $43,819,000 after purchasing an additional 1,936,651 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Macerich by 40.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,842,987 shares of the real estate investment trust’s stock valued at $28,824,000 after purchasing an additional 531,650 shares during the last quarter. BlackRock Inc. lifted its holdings in Macerich by 1.3% during the 4th quarter. BlackRock Inc. now owns 30,642,473 shares of the real estate investment trust’s stock valued at $529,503,000 after purchasing an additional 398,564 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Macerich during the 1st quarter valued at about $4,616,000. 84.57% of the stock is owned by institutional investors.

About Macerich (Get Rating)

Macerich 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 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.

Further Reading

Earnings History and Estimates for Macerich (NYSE:MAC)

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