Macerich Co (NYSE:MAC) announced a quarterly dividend on Thursday, July 25th, RTT News reports. Investors of record on Monday, August 19th will be paid a dividend of 0.75 per share by the real estate investment trust on Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a yield of 9.86%. The ex-dividend date of this dividend is Friday, August 16th.

Macerich has raised its dividend payment by an average of 4.1% per year over the last three years and has increased its dividend every year for the last 8 years. Macerich has a dividend payout ratio of 76.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Macerich to earn $3.67 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 81.7%.

Shares of MAC stock opened at $30.44 on Wednesday. The business has a fifty day simple moving average of $32.61. Macerich has a 52 week low of $30.10 and a 52 week high of $59.22. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 7.91, a price-to-earnings-growth ratio of 3.73 and a beta of 0.73. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.93 and a quick ratio of 0.93.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. Macerich had a return on equity of 3.49% and a net margin of 11.59%. The company had revenue of $227.97 million during the quarter, compared to analyst estimates of $213.18 million. During the same quarter last year, the firm posted $0.96 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. As a group, research analysts predict that Macerich will post 3.56 EPS for the current year.

A number of brokerages recently commented on MAC. Citigroup dropped their price target on Macerich from $46.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Barclays reaffirmed a “hold” rating and issued a $36.00 price target on shares of Macerich in a research note on Thursday, July 18th. BMO Capital Markets reaffirmed a “buy” rating and issued a $44.00 price target on shares of Macerich in a research note on Monday, August 5th. Finally, Morgan Stanley dropped their price target on Macerich from $180.00 to $170.00 and set an “underweight” rating for the company in a research note on Thursday, June 20th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $58.00.

In other news, President Edward C. Coppola acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was acquired at an average price of $38.46 per share, for a total transaction of $192,300.00. Following the completion of the acquisition, the president now owns 270,595 shares in the company, valued at $10,407,083.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Edward C. Coppola acquired 18,223 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $30.78 per share, with a total value of $560,903.94. Following the acquisition, the president now owns 284,095 shares of the company’s stock, valued at approximately $8,744,444.10. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 92,723 shares of company stock valued at $3,117,379. 1.73% of the stock is owned by corporate insiders.

Macerich Company Profile

Macerich, an S&P 500 company, 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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Dividend History for Macerich (NYSE:MAC)

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