Macerich Company (The) (MAC) to Issue Quarterly Dividend of $0.17 on March 30th

Macerich Company (The) (NYSE:MAC) declared a quarterly dividend on Thursday, February 12th. Investors of record on Monday, March 16th will be given a dividend of 0.17 per share by the real estate investment trust on Monday, March 30th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, March 16th.

Macerich has decreased its dividend payment by an average of 0.3%annually over the last three years. Macerich has a dividend payout ratio of -2,266.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Macerich to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 43.9%.

Macerich Trading Up 4.1%

MAC stock opened at $18.54 on Friday. Macerich has a 12-month low of $12.48 and a 12-month high of $20.97. The business’s 50-day moving average is $18.55 and its 200 day moving average is $17.83. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.97. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of -11.66, a PEG ratio of 3.95 and a beta of 2.16.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MAC shares. Jefferies Financial Group reissued a “buy” rating and issued a $21.00 price objective on shares of Macerich in a research note on Monday, December 15th. Truist Financial increased their target price on shares of Macerich from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Scotiabank boosted their price target on shares of Macerich from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Macerich in a report on Thursday, January 22nd. Finally, Mizuho set a $21.00 target price on Macerich in a report on Friday, January 9th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Macerich currently has an average rating of “Hold” and a consensus target price of $19.76.

Macerich Company Profile

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.