Macerich Co (NYSE:MAC) declared a quarterly dividend on Thursday, April 20th. Investors of record on Friday, May 5th will be paid a dividend of 0.71 per share by the real estate investment trust on Friday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 4.30%.
Macerich has raised its dividend by an average of 5.2% annually over the last three years and has increased its dividend every year for the last 6 years. Macerich has a dividend payout ratio of 71.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Macerich to earn $0.75 per share next year, which means the company may not be able to cover its $2.84 annual dividend with an expected future payout ratio of 378.7%.
Shares of Macerich (NYSE:MAC) traded down 0.11% during trading on Thursday, reaching $66.12. 838,121 shares of the company were exchanged. The stock has a market capitalization of $9.51 billion, a PE ratio of 18.78 and a beta of 0.79. Macerich has a one year low of $62.14 and a one year high of $94.51. The stock has a 50-day moving average price of $64.64 and a 200-day moving average price of $68.99.
Macerich (NYSE:MAC) last released its quarterly earnings data on Monday, February 6th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.01. The firm had revenue of $272 million for the quarter, compared to analysts’ expectations of $261.69 million. Macerich had a net margin of 49.65% and a return on equity of 11.24%. During the same quarter last year, the business posted $2.65 earnings per share. Analysts forecast that Macerich will post $0.63 EPS for the current year.
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Several equities research analysts have recently issued reports on MAC shares. BTIG Research started coverage on shares of Macerich in a research report on Tuesday, January 3rd. They set a “buy” rating and a $82.00 price objective on the stock. Mizuho reiterated a “buy” rating on shares of Macerich in a research report on Friday, December 23rd. Royal Bank of Canada reiterated a “buy” rating and set a $73.00 price objective on shares of Macerich in a research report on Wednesday, February 22nd. Barclays PLC reduced their price objective on shares of Macerich from $83.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Monday, January 23rd. Finally, Stifel Nicolaus reduced their price objective on shares of Macerich from $76.00 to $74.00 and set a “hold” rating on the stock in a research report on Tuesday, February 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $75.07.
The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.
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