Macerich Company (The) (NYSE:MAC) to Issue Quarterly Dividend of $0.17

Macerich Company (The) (NYSE:MAC) announced a quarterly dividend on Thursday, February 12th. Investors of record on Monday, March 16th will be paid 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 yield of 3.8%. The ex-dividend date is Monday, March 16th.

Macerich has decreased its dividend by an average of 0.3%annually over the last three years. Macerich has a 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. Equities research 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 Stock Performance

Macerich stock opened at $17.81 on Friday. The firm has a market capitalization of $4.56 billion, a PE ratio of -11.20, a price-to-earnings-growth ratio of 4.18 and a beta of 2.16. The stock’s 50 day moving average price is $18.54 and its 200 day moving average price is $17.83. Macerich has a one year low of $12.48 and a one year high of $20.97. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.03 and a current ratio of 1.03.

Analysts Set New Price Targets

MAC has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $21.00 price objective on shares of Macerich in a research report on Monday, December 15th. Scotiabank upped their target price on Macerich from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, November 13th. Mizuho set a $21.00 price target on shares of Macerich in a research note on Friday, January 9th. Truist Financial raised their price objective on shares of Macerich from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Macerich in a research report on Thursday, January 22nd. Five equities 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, Macerich currently has a consensus 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.