Macerich Company (The) (NYSE:MAC) Announces $0.17 Quarterly Dividend

Macerich Company (The) (NYSE:MAC) declared a quarterly dividend on Tuesday, August 4th. Stockholders of record on Monday, September 14th will be given a dividend of 0.17 per share by the real estate investment trust on Monday, September 28th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, September 14th.

Macerich has decreased its dividend payment by an average of 0.1%annually over the last three years. Macerich has a payout ratio of -2,266.7% meaning 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 $1.64 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 41.5%.

Macerich Price Performance

NYSE:MAC opened at $25.62 on Wednesday. The stock has a 50-day simple moving average of $24.73 and a 200 day simple moving average of $21.69. Macerich has a 52-week low of $16.03 and a 52-week high of $26.67. The company has a market cap of $7.26 billion, a PE ratio of -36.08, a PEG ratio of 1.82 and a beta of 2.07. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.83 and a current ratio of 0.83.

Macerich (NYSE:MAC) last released its earnings results on Tuesday, August 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The firm had revenue of $249.71 million during the quarter, compared to the consensus estimate of $239.77 million. Macerich had a negative net margin of 18.22% and a negative return on equity of 6.95%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. On average, sell-side analysts expect that Macerich will post 1.49 EPS for the current fiscal year.

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.