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

Macerich Company (The) (NYSE:MAC) declared a quarterly dividend on Thursday, July 30th. Shareholders of record on Monday, September 14th will be paid a dividend of 0.17 per share by the real estate investment trust on Monday, September 28th. This represents a c) annualized dividend and a 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 dividend payout ratio of -2,266.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Price Performance

Shares of NYSE:MAC opened at $22.64 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.88 and a current ratio of 0.88. Macerich has a 52 week low of $16.03 and a 52 week high of $26.67. The firm has a market cap of $6.42 billion, a PE ratio of -34.82, a price-to-earnings-growth ratio of 1.63 and a beta of 2.06. The firm’s fifty day moving average is $24.66 and its 200-day moving average is $22.70.

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

Insider Activity

In other news, CAO Christopher Zecchini sold 2,740 shares of the stock in a transaction dated Wednesday, September 9th. The shares were 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 $19,718.16. This represents a 76.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in shares of Macerich by 14.7% during the first quarter. Fifth Third Bancorp now owns 3,666 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 471 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Macerich by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 70,823 shares of the real estate investment trust’s stock worth $1,784,000 after purchasing an additional 507 shares in the last quarter. HighTower Advisors LLC grew its position in Macerich by 1.2% in the 4th quarter. HighTower Advisors LLC now owns 46,116 shares of the real estate investment trust’s stock valued at $851,000 after purchasing an additional 530 shares during the period. PNC Financial Services Group Inc. grew its position in Macerich by 2.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,659 shares of the real estate investment trust’s stock valued at $455,000 after purchasing an additional 622 shares during the period. Finally, Osaic Holdings Inc. increased its stake in Macerich by 5.5% during the 4th quarter. Osaic Holdings Inc. now owns 12,116 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 637 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

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.