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

Key Points

• Macerich declared a quarterly dividend of $0.17 per share (annualized $0.68), with an ex‑dividend/record date of June 15 and payment on June 29, implying a yield of about 3.2%.
• The dividend is currently not covered by earnings—Macerich reported Q EPS of -$0.07 and a payout ratio of -2,266.7%—but analysts forecast $1.62 EPS next year, which would imply an expected payout ratio near 42% and restore coverage.
• Shares trade around $21.48 with a 52‑week range of $14.62–$22.56 and a market cap of $5.59 billion; the company has a negative P/E, high leverage (debt/equity ~2.01) and elevated volatility (beta ~2.12).

Macerich Company (The) (NYSE:MAC - Get Free Report) announced a quarterly dividend on Monday, May 4th. Investors of record on Monday, June 15th will be given a dividend of 0.17 per share by the real estate investment trust on Monday, June 29th. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, June 15th.

Macerich has decreased its dividend payment by an average of 0.1%annually 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. Research analysts expect Macerich to earn $1.62 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 42.0%.

Macerich Price Performance

Macerich stock opened at $21.48 on Tuesday. The company's fifty day moving average price is $20.10 and its 200 day moving average price is $18.78. Macerich has a 1 year low of $14.62 and a 1 year high of $22.56. The stock has a market capitalization of $5.59 billion, a P/E ratio of -27.90, a P/E/G ratio of 1.49 and a beta of 2.12. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.02 and a current ratio of 1.02.

Macerich (NYSE:MAC - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.50). Macerich had a negative net margin of 19.44% and a negative return on equity of 7.32%. The company had revenue of $261.70 million during the quarter, compared to analyst estimates of $260.48 million. During the same period in the prior year, the business posted $0.47 EPS. Macerich's revenue was down 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Macerich will post 1.46 earnings per share for the current fiscal year.

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.

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