Macerich (MAC) Projected to Post Earnings on Thursday

Macerich (NYSE:MAC) is anticipated to post its quarterly earnings results before the market opens on Thursday, February 27th. Analysts expect Macerich to post earnings of $0.47 per share and revenue of $216.62 million for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Macerich Price Performance

MAC stock opened at $19.80 on Tuesday. The company has a 50 day simple moving average of $20.27 and a 200 day simple moving average of $18.83. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 50.76, a P/E/G ratio of 0.71 and a beta of 2.50. Macerich has a 1 year low of $12.99 and a 1 year high of $22.27. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Tuesday, March 4th. Macerich’s dividend payout ratio is 174.36%.

Insider Transactions at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the completion of the sale, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. This represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Scotiabank upgraded shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price target for the company in a research report on Tuesday, December 17th. Morgan Stanley upgraded shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price target for the company in a research report on Wednesday, January 15th. Jefferies Financial Group upgraded shares of Macerich from a “hold” rating to a “buy” rating and upped their price target for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Finally, StockNews.com cut shares of Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.30.

About Macerich

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.