Macerich Company (The) (MAC) to Issue Quarterly Dividend of $0.17 on June 29th

Macerich Company (The) (NYSE:MAC) declared a quarterly dividend on Monday, May 4th. Stockholders of record on Monday, June 15th will be given a dividend of 0.17 per share by the real estate investment trust on Monday, June 29th. This represents a c) dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, June 15th.

Macerich has decreased its dividend by an average of 0.1%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 $1.64 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 Stock Performance

NYSE:MAC opened at $25.38 on Friday. Macerich has a 1 year low of $15.48 and a 1 year high of $25.59. The firm has a 50 day moving average of $22.02 and a 200-day moving average of $19.85. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $6.63 billion, a P/E ratio of -35.75, a price-to-earnings-growth ratio of 1.68 and a beta of 2.10.

Macerich (NYSE:MAC) last posted its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Macerich had a negative net margin of 18.22% and a negative return on equity of 6.95%. The company had revenue of $241.54 million during the quarter, compared to analysts’ expectations of $233.06 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. Macerich’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Macerich will post 1.48 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.