Macerich (NYSE:MAC) Releases Earnings Results, Beats Expectations By $0.01 EPS

Macerich (NYSE:MAC) issued its earnings results on Monday. The real estate investment trust reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01, Zacks reports. Macerich had a net margin of 8.98% and a return on equity of 3.15%.

Macerich Price Performance

MAC stock opened at $14.96 on Monday. The business has a 50 day simple moving average of $15.63 and a 200-day simple moving average of $18.53. The firm has a market capitalization of $3.78 billion, a PE ratio of 38.36, a price-to-earnings-growth ratio of 0.71 and a beta of 2.13. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. Macerich has a 1 year low of $12.48 and a 1 year high of $22.27.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.55%. Macerich’s dividend payout ratio (DPR) is -86.08%.

Analyst Ratings Changes

Several brokerages have recently commented on MAC. Truist Financial upgraded shares of Macerich from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Thursday, April 10th. The Goldman Sachs Group dropped their price target on Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a research note on Monday, March 10th. Piper Sandler dropped their price target on Macerich from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. decreased their price objective on Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a report on Monday, March 10th. Finally, Morgan Stanley dropped their price objective on Macerich from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.95.

About Macerich

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.