The Macerich Company (NYSE:MAC) declared a quarterly dividend on Thursday, April 29th, RTT News reports. Investors of record on Friday, May 7th will be given a dividend of 0.15 per share by the real estate investment trust on Thursday, June 3rd. This represents a $0.60 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Thursday, May 6th.
The Macerich has decreased its dividend by 46.0% over the last three years and has raised its dividend every year for the last 1 years.
NYSE MAC opened at $13.94 on Tuesday. The firm has a market capitalization of $2.50 billion, a P/E ratio of -154.87 and a beta of 2.07. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 2.21. The firm’s fifty day moving average price is $12.70 and its two-hundred day moving average price is $11.66. The Macerich has a 1 year low of $5.61 and a 1 year high of $25.99.
Several brokerages recently commented on MAC. Truist lifted their target price on shares of The Macerich from $14.00 to $15.00 in a report on Monday, March 22nd. Zacks Investment Research downgraded shares of The Macerich from a “hold” rating to a “sell” rating and set a $13.50 target price for the company. in a report on Thursday, January 14th. Truist Securities lifted their target price on shares of The Macerich from $14.00 to $15.00 in a report on Monday, March 22nd. Morgan Stanley reduced their target price on shares of The Macerich from $11.50 to $11.20 and set an “underweight” rating for the company in a report on Wednesday, April 14th. Finally, Mizuho lifted their target price on shares of The Macerich from $8.50 to $12.50 in a report on Thursday, April 15th. Nine analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The Macerich has a consensus rating of “Sell” and an average price target of $10.55.
The Macerich Company Profile
Macerich is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.
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