Macerich Company (The) (NYSE:MAC) Shares Will Pay Quarterly Dividend of $0.17

Macerich Company (The) (NYSE:MAC) declared a quarterly dividend on Monday, November 2nd. Shareholders of record on Monday, December 14th will be given a dividend of $0.17 per share by the real estate investment trust on Monday, December 28th. This represents a $0.68 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, December 14th.

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 $1.66 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 41.0%.

Macerich Stock Up 2.1%

NYSE:MAC traded up $0.51 during trading hours on Monday, reaching $24.85. 1,871,024 shares of the stock were exchanged, compared to its average volume of 2,947,519. The stock has a market cap of $7.05 billion, a PE ratio of -38.23, a PEG ratio of 1.75 and a beta of 2.11. Macerich has a twelve month low of $16.03 and a twelve month high of $26.67. The firm has a 50 day moving average of $23.14 and a 200 day moving average of $22.20. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.88 and a quick ratio of 0.88.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business had revenue of $249.71 million during the quarter, compared to analyst estimates of $239.77 million. Macerich had a negative net margin of 16.85% and a negative return on equity of 6.26%. Macerich’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the business earned $0.33 earnings per share. On average, equities analysts expect that Macerich will post 1.49 earnings per share for the current year.

Macerich Company Profile

Macerich (NYSE: MAC) is a self-managed and self-administered real estate investment trust that owns, operates and develops retail and mixed-use properties in the United States. The company’s portfolio primarily consists of regional shopping centers and high-quality malls located in major markets, with a concentration in the Western and Sun Belt regions.

Macerich generates revenue primarily through leasing retail, dining, entertainment and other commercial space to tenants. Its activities also include property management, marketing, redevelopment and the development of mixed-use projects designed to combine retail with residential, office, hotel and other uses.

The company traces its roots to the 1960s and has expanded through the acquisition, development and redevelopment of retail real estate.