Macerich Company (The) (NYSE:MAC) Declares $0.17 Quarterly Dividend

Macerich Company (The) (NYSE:MAC) declared a quarterly dividend on Thursday, February 12th. Investors of record on Monday, March 16th will be given a dividend of 0.17 per share by the real estate investment trust on Monday, March 30th. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, March 16th.

Macerich has decreased its dividend payment by an average of 0.3%per year over the last three years. Macerich has a dividend payout ratio of -2,266.7% 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 Stock Up 0.6%

Shares of NYSE:MAC opened at $17.91 on Friday. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of -11.27, a P/E/G ratio of 4.18 and a beta of 2.16. The business’s 50-day moving average is $18.54 and its 200-day moving average is $17.83. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.03 and a quick ratio of 1.03. Macerich has a 1 year low of $12.48 and a 1 year high of $20.97.

About Macerich

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.