The Macerich Company (MAC) To Go Ex-Dividend on March 4th

The Macerich Company (NYSE:MAC) announced a quarterly dividend on Friday, February 14th,RTT News reports. Investors of record on Tuesday, March 4th will be given a dividend of 0.17 per share by the real estate investment trust on Tuesday, March 18th. This represents a $0.68 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Tuesday, March 4th.

Macerich has raised its dividend by an average of 4.3% per year over the last three years. Macerich has a payout ratio of 6,800.0% 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 $1.55 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 Price Performance

Shares of MAC stock opened at $20.51 on Friday. The stock’s fifty day moving average is $20.41 and its 200-day moving average is $18.58. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. Macerich has a 52 week low of $12.99 and a 52 week high of $22.27. The stock has a market capitalization of $5.10 billion, a PE ratio of 52.58, a PEG ratio of 0.72 and a beta of 2.50.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MAC shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Macerich in a research report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 price objective for the company. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and raised their price target for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Compass Point upped their price objective on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Morgan Stanley raised Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 target price for the company in a research note on Wednesday, January 15th. Finally, StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Macerich has a consensus rating of “Hold” and an average price target of $19.30.

Insider Activity at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total value of $1,303,120.51. Following the completion of the transaction, the director now owns 83,479 shares of the company’s stock, valued at $1,718,832.61. The trade was a 43.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

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.