Macerich Co. (MAC) Announces Quarterly Dividend of $0.62
Macerich (NYSE:MAC) announced a quarterly dividend on Thursday, October 24th, Analyst Ratings News reports. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.62 per share on Friday, December 6th. This represents a $2.48 annualized dividend and a dividend yield of 4.17%.
MAC has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Macerich in a research note to investors on Friday, October 4th. They now have a $59.00 price target on the stock. On the ratings front, analysts at Credit Suisse initiated coverage on shares of Macerich in a research note to investors on Thursday, September 19th. They set an “underperform” rating and a $58.00 price target on the stock. Finally, analysts at RBC Capital reiterated a “hold” rating on shares of Macerich in a research note to investors on Wednesday, September 18th. They now have a $65.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Macerich has an average rating of “Hold” and a consensus target price of $63.36.
Macerich (NYSE:MAC) traded up 0.74% during mid-day trading on Thursday, hitting $59.51. 493,162 shares of the company’s stock traded hands. Macerich has a 52 week low of $54.32 and a 52 week high of $72.19. The stock’s 50-day moving average is $58.76 and its 200-day moving average is $63.15. The company has a market cap of $8.363 billion and a price-to-earnings ratio of 17.80.
Macerich (NYSE:MAC) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.87 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.81 by $0.06. The company had revenue of $262.90 million for the quarter, compared to the consensus estimate of $282.21 million. During the same quarter last year, the company posted $0.74 earnings per share. Macerich’s revenue was up 26.1% compared to the same quarter last year.
The Macerich Company is a self-administered and self-managed real estate investment trust (NYSE:MAC).
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