Macerich Company (The) (MAC) To Go Ex-Dividend on September 14th

Macerich Company (The) (NYSE:MAC) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Monday, September 14th will be given a dividend of 0.17 per share by the real estate investment trust on Monday, September 28th. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, September 14th.

Macerich has decreased its dividend payment by an average of 0.1%per year over the last three years. Macerich has a 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. 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 Trading Up 0.1%

Shares of MAC opened at $22.64 on Friday. Macerich has a 12-month low of $16.03 and a 12-month high of $26.67. The firm has a market capitalization of $6.42 billion, a P/E ratio of -34.82, a P/E/G ratio of 1.63 and a beta of 2.06. The firm has a 50-day moving average price of $24.66 and a 200 day moving average price of $22.70. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.67.

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

Insider Activity at Macerich

In related news, CAO Christopher Zecchini sold 2,740 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $23.28, for a total transaction of $63,787.20. Following the transaction, the chief accounting officer owned 847 shares of the company’s stock, valued at approximately $19,718.16. This represents a 76.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Macerich

Large investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC boosted its position in Macerich by 366.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 1,095 shares during the period. Hantz Financial Services Inc. boosted its holdings in Macerich by 80.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 684 shares during the period. Triumph Capital Management acquired a new position in Macerich during the 3rd quarter worth $33,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Macerich during the 2nd quarter worth about $36,000. Finally, Kestra Advisory Services LLC acquired a new stake in Macerich in the 4th quarter valued at about $43,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

About Macerich

Macerich (NYSE: MAC) is a self-managed real estate investment trust that owns, operates and develops retail real estate in the United States. The company focuses primarily on high-quality shopping centers and regional malls located in densely populated markets with strong consumer and tourism activity.

Macerich’s properties accommodate a range of retailers, restaurants, entertainment venues and service businesses. Its activities include leasing and managing retail space, operating shopping centers, and pursuing property redevelopment and expansion projects designed to enhance tenant offerings and the surrounding customer experience.

The company’s portfolio is concentrated in major metropolitan areas, particularly across the Western United States, while also including select properties in other prominent U.S.