The Macerich Company (NYSE:MAC – Get Free Report) declared a quarterly dividend on Friday, July 26th, NASDAQ reports. Stockholders of record on Monday, August 19th will be given a dividend of 0.17 per share by the real estate investment trust on Monday, September 9th. This represents a $0.68 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Monday, August 19th.
Macerich has increased its dividend by an average of 139.8% annually over the last three years and has raised its dividend every year for the last 3 years. Macerich has a payout ratio of -485.7% 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 analysts expect Macerich to earn $1.69 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 40.2%.
Macerich Stock Performance
MAC opened at $14.86 on Friday. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -9.53, a PEG ratio of 0.51 and a beta of 2.51. Macerich has a fifty-two week low of $9.21 and a fifty-two week high of $17.69. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.03 and a current ratio of 0.86. The company has a fifty day moving average of $15.19 and a 200 day moving average of $15.70.
Analysts Set New Price Targets
Check Out Our Latest Analysis on MAC
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.
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